Company reports increase in subscribers and revenue
- Ituran Location & Control shares rose 9.2% on 3Q subscriber and revenue growth
- Company reported 2.2 million subscribers as of Sept. 30, an increase of 48,000 over the prior quarter
- Revenue from subscription fees increased 13% to $60.2 million
- Net income in the third quarter grew to $12.5 million, up from $10.1 million a year earlier
- Expect subscriber growth of 30,000 to 35,000 in the fourth quarter
Ituran Location & Control shares rose 9.2% to $27.16 following growth in subscribers and subscriber revenue in the third quarter. The company reported about 2.2 million subscribers as of Sept. 30, an increase of 48,000 over the end of the prior quarter. Revenue from subscription fees increased 13% from a year earlier to $60.2 million. Net income in the third quarter grew to $12.5 million, or 63 cents a share, from $10.1 million, 49 cents a share, a year earlier. The company expects subscriber growth of between 30,000 and 35,000 in the fourth quarter.
Factuality Level: 8
Factuality Justification: The article provides specific information about the rise in shares, growth in subscribers and subscriber revenue, as well as the company’s reported numbers. The information is supported by quotes from the co-Chief Executive. However, the article lacks additional context or analysis, and does not provide any opposing viewpoints or potential risks to the company’s growth.
Noise Level: 7
Noise Justification: The article provides some relevant information about Ituran Location & Control’s performance in the third quarter, including an increase in subscribers and subscriber revenue. However, it lacks context and analysis, and does not provide any insights or solutions for the reader. The article also includes some irrelevant information about the stock’s performance and the CEO’s comments about new car sales in Israel. Overall, the article contains mostly filler content and does not provide much value.
Financial Relevance: Yes
Financial Markets Impacted: Ituran Location & Control shares
Presence Of Extreme Event: Yes
Nature Of Extreme Event: Political Upheaval or Revolution
Impact Rating Of The Extreme Event: Moderate
Rating Justification: The article mentions that the subscriber growth of Ituran Location & Control is somewhat impacted by a lack of new car sales in Israel due to the war that started near the start of the fourth quarter. This political upheaval has a moderate impact on the company’s operations and financial performance.
Public Companies: Ituran Location & Control (N/A)
Key People: Eyal Sheratzky (Co-Chief Executive)
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