Engine Media Stock Gains After Clocking 360% Y/Y Revenue Growth In Q3

Engine Media Holdings Inc GAME reported third-quarter FY21 revenue growth of 360% year-on-year to $9.6 million.
Games development revenue was $1.4 million, Sponsorship, tournament, and event income rose 29.2% Y/Y to $0.19 million, and Platform revenue grew 132.8% Y/Y to $1.5 million.
Advertising revenue increased 457.1% Y/Y to $6.4 million, while Professional services revenue declined 40.9% Y/Y to $0.08 million.
It noted a net income from continuing operations of $6.2 million, implying a margin of 65%.
Engine Media has made tremendous progress over the past three months in integrating its six operating entities into a cohesive company poised for synergistic growth, CEO Lou Schwartz stated.
It held $21.6 million in cash and equivalents.
The company used $23.1 million in operating cash flow.
Ir reported an EPS loss of $(0.25).
Price action: GAME shares traded higher by 3.61% at $6.89 in the premarket session on the last check Monday.