Earnings: Buongiorno Sees Revenues Fall; Focuses On New Forms Of Content


Credit: Buongiorno

Italian mobile content company Buongiorno released earnings for the first six months of the year, saying that a majority of its operators still revolve around traditional content, but increasingly it’s focusing on new opportunities, such as social networking and mobile advertising. Earnings Release.

The company said revenues fell compared to the year-ago period because of new terms of a contract signed in Australia that affected certain accounting principles. Still, the company’s profits increased 87.5 percent compared to the year earlier based on lower fixed costs.

1H 2009 1H 2008
Net Profit Euro 4.5M ($6.5M) Euro 2.4M ($3.4M)
Revenue Euro 132.4M ($190.3M) Euro 158.2M ($227.4M)

In the company’s traditional business, which works with carriers, Buongiorno (BIT: BNG) said it was able to launch customer-relationship management services with Telefonica (NYSE: TEF) O2 in the UK and was able to expand portal solutions to Sprint’s alerts platform in the U.S., and developed a customized Brew solution for an INQ handset.

As far as emerging operations, which the company calls Mobile Content 2.0, it said its social networking service — peoplesound — has reached more than 300,000 subscribers, and that its Hellotxt social network aggregator is now available through Vodafone’s app store in Italy and Spain.

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