Swedish audiobook company Storytel released results for the first quarter 2024, with sales up 12 percent to SEK891.9 million ($85.8 million). Operating loss improved to SEK24 million, compared to SEK48 million the previous year. EBITDA grew 50 percent to SEK50.9 million, which the company attributed to “strong streaming growth and a reduction of costs as a result of cost efficiency measures” (they reduced the workforce by 13 percent in the quarter). “The first quarter marked another step up in our financial performance as Storytel delivered a strong result with improved profitability and operational cash flow,” CEO Johannes Larcher said in […]
