Viggle (VGGL) Shares Spike On Earnings Beat

Viggle Inc. (VGGL) shares spiked nearly 71% to $4.05 in morning trading Monday after the company reported a 52% year-over-year growth in revenue and gains in key operating metrics during its Q3/15. The mobile and Web-based entertainment marketing platform posted $5 million in revs in Q3/15 compared with $3.3 million in the year-ago third quarter. Average monthly total reach for the period ended March 31, 2015 was 25.66 million, compared with 19.35 million year-over-year. Viggle said that almost one million new users registered on its platform during the quarter, bringing net registered users to more than 8.95 million, compared with 4.14 million as of the end of the year-ago quarter, an increase of 116%.

Greg Consiglio, President and COO of Viggle, stated, “As we celebrate our three-year milestone of operations this quarter, the Viggle experience has become more rewarding for our users and advertising partners. During this quarter, we spent a lot of time and energy preparing for our upgrade of Wetpaint, which took place this past week with celebrity enthusiasm and support. Now fully optimized for mobile, Wetpaint delivers timely celebrity news and entertainment and the best part is that it’s now fully integrated with the Viggle platform.”

Viggle’s trading volume jumped following its earnings release with the issue currently trading more than 12.5 million shares, compared to the average volume of 1 million.

The chart below shows where the equity has traded over the last 52 weeks.

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