(Earnings conference call later today at 5 PM EST, here) Audible, the spoken-word company, has reported it Q1 numbers, and had a good quarter: revenues came in at $12.9 million, up 91% from $6.8 million reported in Q1-04 and up 26% quarter-over-quarter.
Net income came in at $0.9 million, up from the loss of $10.4 million in the year-ago quarter, but down from a seasonally strong Q4 of 2004 ($1.25 million in that quarter)..
New subscribers acquired during the quarter reached a record 55,400…
The company today raised full-year net revenue guidance for 2005 to $62 million to $65 million, which represents 80% to 89% year-over-year revenue growth, up from the company’s prior
Update: Conference call details: Audible’s customer acquisition rate has gone down dramatically: $40 acquisition cost for this quarter, down from $51 in the prior quarter…but these customers has higher churn rate, according to Katz…the lower cost was due to one-month free promo and conversions from that.
Audible revenues from iTunes during Q1 were $1.8 million, almost 14 percent of its total revenues…
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