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Digitalbox narrows annual losses as lower costs offset flat revenue
StockMarketWire.com
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Media business Digitalbox reported narrowed annual losses as lower costs offset flat revenue following an impact to traffic in Q3 after social media giants changed their content algorithms.
For the year ended 31 December 2020, pre-tax losses were narrowed to £143,000 from £460,000 last year as revenue was flat at £2.2 million.
The result of social media giants changing their content algorithms hurt traffic and revenues in Q3.
Looking ahead, the company said advertising trends continued to be 'accelerated by the impact of COVID-19, resulting in money rapidly moving into the mobile sector.'
Story provided by StockMarketWire.com
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