Digitalbox (LON:DBOX) shares jumped 50% on Thursday morning as the group said profit was going to be ‘significantly ahead of the most recently upgraded market consensus of £700k EBITDA’.
Digitalbox also said revenue was expected to be not less than £3.3m.
Digitalbox owns and operates three brands in Entertainment Daily, The Daily Mash and The Tab. The company said they had enjoyed the benefits of increased mobile advertising driven by highs levels of traffic.
The higher levels of traffic was attributed to seasonal coverage of shows such as Strictly Come Dancing and I’m A Celebrity, as well as content focused on the record breaking Squid Game.
Digitalbox shares were trading at 10.5p, up 50%, at 10.00am in London. The company has a market cap of £12m.