Earnings: Buongiorno Decreases 2008 Revenue Guidance On Economic Fears

imageBuongiorno (BIT: BNG), the Italian global mobile content company, said the market is softening but it was able to keep margins up because of cuts it made at the company. Buongiorno said growth slowed in Q3, primarily because consumers cut back on their spending. To ward against lower profits, however, Buongiorno trimmed expenses in its consumer-facing business, advertising budgets and instead focused on markets with a higher return on investment, including WAP-based products and countries such as France and Greece. Buongiorno’s CEO Andrea Casalini remained optimistic:

Comments have been disabled for this post