Millennial Media is reporting financial results for the third quarter that ended September 30th, 2012. And the numbers must be pleasing to some of the company’s many investors and supporters.
Millennial saw a doubling of revenues but wider losses as it continued to escalate spending on technology infrastructure and global expansion.
Millennial Media exceeded its preliminary results reported on October 15, 2012 with third quarter revenue at $47.4 million, which is an 88.0% year-over-year increase from revenue in the third quarter of 2011.
“During the quarter, we … continued to build on our leadership position with investments in technology and other resources as well as in the expansion of our international operations to accommodate both global and more regional demand for our platform,” says CEO Paul Palmieri.
Millennial Media expects revenue for the fourth quarter of 2012 to be in the range of $61.5 million to $63.0 million.