Millennial Media earnings beats forecasts; Mobile Mix report says Samsung surpassed Apple for ad impression on platform
The mobile advertising company’s revenue for full year 2014 ended up 14.3 percent, while net income was down due to $93.5 million write-down of assets
The mobile advertising company Millennial Media reported its 2014 year-end earnings yesterday, reporting that revenue for 2014 was $296.2 million compared to $259.2 million for 2013. Net income came in at a loss of $149.1 million, attributable to an impairment write-down on goodwill and intangible assets of $93.5 million.
“Millennial Media ended 2014 on a high note. We successfully completed our acquisition of Nexage, added several key management personnel, and exceeded our fourth quarter revenue expectations,” said Michael Barrett, CEO of Millennial Media.
“Through these accomplishments, we’ve entered 2015 with a stronger, more complete set of tools to help us execute on our full-stack marketplace vision and make mobile simple for our partners. We’ve already begun inventory integrations to our owned and operated programmatic exchange, The Millennial Media Exchange powered by Nexage, which will enable hundreds of mobile ad buyers to transact with thousands of developers and publishers. Supported by the foundation of our managed media business, we expect to accelerate our programmatic platform capabilities and revenue production during 2015.”
Stop in the company rose in after hours trading following the release of earnings, though the stock is down slightly along with the rest of the market (the Dow is trading down over 200 points in morning trading).
Key findings from the report:
- Samsung became the manufacturer from which we saw the greatest number of impressions on our platform in 2014, unseating Apple who had previously been the leader. The Apple iPhone is still the largest device by impressions.
- This jump in Samsung impressions contributed to an overall increase in Android impressions, as impressions from all Android devices grew six percentage points year-over-year.
- 29% of apps allowed video ads, up six percentage points from the previous year. Video and rich media ads see nearly 2x the engagement rate of standard banners.