Akazoo S.A. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2019. For the quarter, the company reported revenues of EUR 34.959 million against EUR 28.095 million a year ago. Operating profit was EUR 0.407 million against EUR 1.179 million a year ago. Net income was EUR 1.645 million against EUR 1.011 million a year ago. Income per basic and diluted share attributable to owners of the parent was EUR 0.03 against EUR 0.02 a year ago.

For the nine months, the company reported revenues of EUR 99.480 million against EUR 74.550 million a year ago. Operating profit was EUR 4.020 million against EUR 4.019 million a year ago. Net income was EUR 4.755 million against EUR 3.819 m a year ago. Income per basic and diluted share attributable to owners of the parent was EUR 0.10 against EUR 0.07 a year ago.

The company is raising fiscal year 2019 revenue guidance from EUR 134 million to EUR 136.5 Million - up 30% year over year with quarter of quarter revenue growth accelerating in the fourth quarter.