Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Mobile content and data intelligence company Mobile Streams (LON: MOS) has seen its shares edge higher on Wednesday after it said its LiveScores service in Mexico has acquired more than 10,000 subscribers.
The service, launched at the start of August, has passed the milestone in two and a half months, six months earlier than the company had internally anticipated.
As a result, the fast pace of growth along with constant exceeding of subscriber targets has seen Mobile Streams state that it is likely to exceed its initial published forecast of the service delivering at least $1.5 million in revenue over 3 years which was based on approximately 3,000 subscribers in October rising to 95,000 over 3 years.
The company said it will update its forecast soon.
Elsewhere, the AIM-listed firm is in advanced discussions regarding launching the LiveScores service in several additional markets.
Nigel Burton, Non-Executive Director of MOS, said: “Acquiring over 10,000 subscribers so quickly in Mexico is a great achievement for the whole team and I am delighted with our progress to date. As we expand into new markets and revive old ones, I very much look forward to seeing this growth continue into the future.”
Mobile Streams shares have jumped 9.61% to 0.625p on the news, adding to its over 150% year-to-date gains.
Mobile Streams shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are MOS shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 75 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .