Stock Watch: Buys into Audible

Shares of Audible (Nasdaq: ADBL), which sells premium spoken-word content online, climbed nearly seven percent on Monday, gaining 1 to 15-1/2 after the company announced that it has entered into a multi-million dollar agreement with Audible will become Amazon’s exclusive provider of spoken-word audio programming for downloading or streaming via the Web. In addition, will acquire a five percent stake in Audible at market prices.

Also on Monday, Audible announced fourth quarter revenue of more than US$420,000, an increase of 338 percent from the nearly $96,000 reported in the same quarter of 1998. For the fourth quarter of 1999, Audible had a net loss of nearly $5.4 million, or 21 cents per share.

Leave a Comment

Please sign in to post or reply to a comment. New users create a free account.

How will consumers react to Apple's WWDC 2023 announcements?
Loading ... Loading ...

E-Commerce Times Channels