Audioboom Group expects lower-than-anticipated revenue and adjusted earnings before interest, taxes, depreciation and amortization in the current financial year due to challenging conditions in advertising markets.
“During 2023, the operational KPIs [ket performance indicators] of the company have continued to demonstrate year-on-year growth, however, the advertising markets have remained challenging for longer than anticipated,” the podcast company said Friday, adding that it does however expect markets to improve.
Audioboom also said it expects to continue seeing “good” like-for-like revenue and KPI performance in the second half of the year.
Interim results for the six months ending June 30 are set to be released mid-July.