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Mobile Streams cautions ahead of full year results

Full year results are due to be released in late September or early October.
women on a mobile phone
Mobile Streams flagged challenges in Argentina and new investments in India

Mobile Streams Plc (LON:MOS) has told investors it now expects revenues for the year, to June 30, will be lower than previously expected, and its operating loss is anticipated to be materially higher.

The company said the shortfall was the result of investment in new products such as ad-funded services and in scaling new geographies such as India, as well as ongoing challenges in its core market of Argentina.

Full year results are due to be released in late September or early October.

In March, Mobile Streams chief executive Simon Buckingham revealed the mobile phone app company had launched in India with billing connectivity for the three largest local mobile phone operators.

It was described as a potential audience of 600mln local mobile phone users with discussions under way for access to more mobile billing connections. Mobile Streams offered daily, weekly and monthly subscriptions at various price points.

Revenues for the half year to December were £8mln (£18.5mln) while net losses rose slightly to £321,000 (£302,000).

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