(CercleFinance.com) – Deezer reduced its quarterly loss thanks to an increase in its turnover, which allowed its title to rise slightly on Thursday on the Paris Stock Exchange.
The music streaming platform indicates that its net loss reached 51.9 million euros in the first six months of the year, against -60.7 million euros a year earlier.
Its consolidated turnover amounted to 219.4 million euros, up 12.1% (+9.9% at constant exchange rates), driven by the positive momentum of its main markets, France and Brazil in the lead.
The group explains that it has benefited from the refocusing of its activity on high-potential markets with regard to ‘B2C’ and its arrival in new markets in ‘B2B’, via its model based on partnerships (Sonos, RTL,. ..)
With the effects of inflation, the total number of its subscribers nevertheless fell by 2.9% to 9.4 million as of June 30, 2022.
Deezer maintains its revenue target of approximately €455 million for the fiscal year ended December 31, 2022, which represents revenue growth of approximately 14% compared to the fiscal year ended December 31, 2022. December 31, 2021.
Deezer shares, which have lost nearly 20% over the past month, rebounded 0.1% on Thursday after rising as much as 1.8% by late morning as investors welcomed the group’s narrowing loss