Financial Services, Lithuania, Technology
International Internet Magazine. Baltic States news & analytics
Thursday, 25.04.2024, 08:11
Adcash revenue drops to EUR 37.7 mln in 2016
Print version |
|---|
The company said that the reason for a decrease in income was mainly the
increasing competition in the sector, the company's main product's life cycle
reaching a mature stage and the increased number of internet advertising scams.
As in previous years, the company has put emphasis on the optimization of
costs. The increase in costs is mainly due to an increase in the number of
employees necessary for developing a new advertising solution as well as the
needs of the infrastructure. Similarly to the previous year, the company's net
profit was influenced by the fluctuation in the exchange rate of the euro and
dollar as well as by developments on the stock markets.
Adcash this year is
planning to improve its self-service platform and continue investments into IT
startups.
The company's average number of employees in 2016 was 98 people, while
labor costs totaled 4.3 million euros.
«The Baltic Course» Is Sold and Stays in Business!
