Member Gains Push Audible

Source: PublishersWeekly Article
An increase of 63,000 new AudibleListener members in the quarter spurred a 38% sales gain at Audible in the third period ended September 30, to $27.6 million. The company finished the quarter with 455,000 members compare to 345,000 members in last year's third quarter. The company reported a net loss in the quarter of $192,000 compared to $2.5 million in last year's third quarter. Although the loss declined, Audible said its bottomline in the period was hurt by the pay-out of an employee profit-sharing expense that was triggered by faster-than-expected EBITDA growth.