Vobile’s revenue growth accelerates in third quarter
Video content protection and management services provider Vobile Group Ltd. (3738.HK) said on Friday its revenue rose 32% in the third quarter year-on-year, accelerating from 24% growth in the first half of the year.
Within the third-quarter total, revenue from Mainland China rose 31% year-on-year in the three-month period, the company said. Vobile’s monthly recurring revenue rose by 29% year-on-year during the quarter, it added. It did not provide specific revenue figures, nor did it give any reason for the accelerating growth.
Vobile got 48.6% of its revenue from the Mainland China market in the first half of this year, while the remainder came from the U.S. and other regions.
The company’s stock rose 5.8% on Monday to close at HK$2.725. The shares are down about 35% this year.
By Doug Young
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