Shares in Blinkx (Other OTC: BLNKF - news) rise as much as 5 percent to an 18-month high of 114 pence after the video search engine post full-year results ahead of its own guidance and market forecasts.
Core earnings more than doubled to $30.2 million, beating the $26 million the company guided last month, while revenue increased by 73 percent to a better-than-expected $198 million.
Analysts at Citi upgrade their 2013 estimates of revenue and operating profit to $220.1 million and $33.8 million from $216.8 million and $33.7 million respectively.
"We think the company is doing the right things to capitalize (primarily organically) on what is one of the few unequivocal growth areas within global media," they write in a research note.
To see Blinkx's statement please click on
Reuters messaging rm://paul.sandle.reuters.com@reuters.net
