News
Buongiorno revs and profits soar
Tim Green May 13 2008, 3:39pm
Content giant Buongiorno posts Q1 revenues and profits up by around 85 per cent.
The Italian firm’s fiscals for the first quarter appear to show that the integration of its recent acquisitions iTouch and Flytxt are bearing fruit. Buongiorno’s revenues grew by 86.3 per cent to 79 million euros, while operating profit leapt 84.6 per cent 6.5 million euros.
The company attributed the good results to: significant gains in “new” geographies including Turkey, Brazil, Mexico, Argentina and South Africa; a new geographical sub-division for the 53 countries in which Buongiorno operates; expansion of Buongiorno’s ‘Marketing Services’ division (notably through the contract with Vodafone Egypt).
Andrea Casalini, CEO of Buongiorno, acknowledged the challenge facing D2C companies in mature markets, but was bullish about the future: “Companies that reached a significant size in ‘Mobile Content 1.0’ services in Western Europe are facing the challenge of maintaining positive growth rates despite the erosion of revenues in segments that have traditionally supplied the greatest weight for their total business.
“We believe the growth opportunities are primarily in MC 1.0 services in more recently developed countries and next-generation services related to the mobile Internet.”
