LiveXLive Media (LIVX) Tops Q3 EPS by 5c, Revenues Miss; Offers FY19 Revenue Guidance Above Consensus

LiveXLive Media (NASDAQ: LIVX) reported Q3 EPS of ($0.13), $0.05 better than the analyst estimate of ($0.18). Revenue for the quarter came in at $8.96 million versus the consensus estimate of $9.26 million.

"We reported our strongest quarter to date in Q3 2019, with record revenue driven by solid growth in our paid subscriber base, which today has surpassed 657,000, and improved operating results over Q2 2019 driven by expanding contribution margins from both our subscription and advertising services. We continued to execute on key initiatives in Q3 2019 to accelerate our growth, including successfully launching LiveZone, our sportscenter of music, and adding major sponsorship initiatives with Kia and Samsung. In addition to increasing our paid subscriber base, we also drove growth across active users, total viewership, number of festivals and livestreams," said Robert Ellin, CEO and Chairman of LiveXLive.

"We are pleased with our record Q3 2019 results, including our vastly improved operating margins and use of capital sequentially," said Michael Zemetra, CFO of LiveXLive. "We ended the first nine months of fiscal 2019 with over 40% growth in paid subscribers and launched key sponsorships and programming across our music platform. With the improvements in operating results, lower cash spend sequentially and accelerated growth in paid subscribers, we are well positioned to continue investing in our immediate growth objectives."

GUIDANCE:

LiveXLive Media sees FY2019 revenue of $37.5-45 million, versus the consensus of $37.26 million.

For earnings history and earnings-related data on LiveXLive Media (LIVX) click here.

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