Audible Beats Street On Sales Ahead Of Amazon Deal (ADBL, AMZN)

Audiobook seller Audible (ADBL) posted a solid Q4 before it becomes a unit of Amazon (AMZN).

Audible reported $31.1 million of Q4 revenue, up 35% year-over-year, and handily beating the Street’s $29 million consensus. The company also swung to a $4 million profit, or 16 cents per share, better than its Q4 net loss of $900,000 a year ago.

Shares ticked up 2 cents to $11.47, but they can’t go much higher — last month, Amazon announced it would purchase Audible for $300 million in cash, or $11.50 per share. Audible expects the deal to close “by the second quarter.”

See Also:
Amazon Snaps Up Audible For $300 Million
Audible Deal: Amazon Got 8% Off Asking Price

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