Chicken Soup For The Soul Entertainment Undershoots Wall Street Q3 Targets, But Ad Sales & Licensing Fuel Record Revenue

deadline.com:

Chicken Soup for the Soul Entertainment reported third-quarter results that undershot Wall Street analysts’ expectations on the top or bottom line.Revenue for the parent of Crackle and other streaming services came in at $29.1 million, which was a record for the company but just shy of the consensus forecast for $29.6 million.

Net losses of $1.04 per share matched those in the same period a year ago and were more than twice the amount of expected red ink.The 50% rise in revenue in the quarter ending September 30 compared with the same period a year ago was credited to growth in ad sales and licensing.Along with Crackle, which CSSE acquired from Sony, the company’s other key services are Popcornflix and the just-launched Chicken Soup for the