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Boku cuts losses as revenue jumps 43% on increased payment activity

By BFN News | 09:54 AM | Thursday 26 March, 2020


Carrier commerce company Boku reported narrower losses as revenue was bolstered by a jump in payment volumes as activity on its platform grew. For the year ended 31 December 2019, pre-tax losses narrowed to $1.3m from £3m on-year as revenue rose 42% to $50.1m. Total payment volumes jumped to $5.0bn for 2019 from $3.6bn last year, with monthly active users increasing to 17.8m in December 2019, up 4.4m on-year. 'As our services are delivered digitally, supply has not been disrupted (from the Covid-19 pandemic); on the demand-side, the more people stay at home the more they play games, download apps and use streaming services,' Boku said. 'We have seen definite evidence of increased volumes in countries with social distancing measures in place.' 'In payments, our existing merchants and connections will continue to perform strongly for as long as lockdown measures are in place,' it added. At 9:54am: (LON:BOKU) Boku Inc. share price was +4p at 68p Story provided by StockMarketWire.com

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