LiveOne Inc reported a quarterly earnings miss on Thursday, with adjusted earnings per share falling short of analyst expectations by $0.03. Revenue also declined year-over-year, underperforming market forecasts.
The company, which operates a portfolio of streaming platforms, disclosed adjusted earnings of $0.05 per share for the period, compared with the $0.08 per share anticipated by analysts surveyed by Refinitiv. Revenue totaled $62.3 million, missing the $65.1 million estimate.
LiveOne attributed the shortfall to softer-than-expected advertising demand and subscriber growth challenges in its core markets. Management noted that macroeconomic pressures continued to weigh on consumer spending, particularly in digital media consumption.
Shares of LiveOne were down 4.2% in after-hours trading following the release. The stock had gained 12% over the past month amid broader optimism in the streaming sector, but the earnings miss tempered investor sentiment.
Analysts at Piper Sandler maintained a neutral rating on the stock, citing near-term headwinds in monetization despite long-term potential in the company’s diversified platform strategy.
The company is scheduled to host an earnings call later today to discuss the results in further detail.
