The Millennial Media advertising network is suffering heavy losses, but since entering the market last March, they have been declining.
Inside Mobile Apps reports that in the third quarter of 2012, Millennial Media, a company engaged in advertising on the mobile app market, earned $47.4 million. This is 88% more than in the third quarter of 2011 and 20.3% more than in the second quarter of this year. At the same time, the company’s net loss amounted to $1.8 million.
This is significantly more than $0.2 million for the same period last year. On the other hand, losses per share decreased from $0.09 in Q3 2011 to $0.02 last quarter. In addition, from the moment the shares are put on the market, the company’s losses are reduced. In the second quarter of this year, for example, the company lost $0.4 more – $2.2 million.
The reduction of losses may be due not only to the growing popularity of the platform (an increase in the number of customers in the last quarter – 8.5%, an increase in unique views – 30 million), but also to the departure of Millennial Media from Eastern Europe, the concentration of attention on the American market, which accounts for a third of the company’s advertising views.
At the moment, the Millennial Media advertising network covers 38 thousand applications. In the third quarter of 2012, 380 million unique users saw the company’s ads, 150 of them live in the USA. The company expects to go into the plus in the fourth quarter.