Viggle revenue rises in 2nd-quarter as registered users more than double
Viggle Inc.'s second-quarter revenue rose 43 percent as its registered users more than doubled.
Its shares rose more than 2 percent in morning trading Wednesday.
The company, which went public in April 2014, operates an app that tracks TV and music habits in exchange for rewards.
Second-quarter revenue rose 43 percent to $7.2 million while registered users rose to 7.9 million from 3.7 million in the year-ago quarter.
Founded in 2011, Viggle produces smartphone and tablet apps, which debuted about two years ago, that allow users to check then watching TV or listening to music. The apps work by using the smartphone or tablet's microphone to determine what the person is watching or listening to through sound.
Users earn points depending on how long they watch or listen and the points can be traded in for rewards like gift cards. Bonus points can be earned by watching certain promoted shows or advertisements.
During the quarter Viggle signed deals with HGTV, HitFix, Gracenote and other companies.
Shares rose 6 cents, or 2.4 percent, to $2.57 in morning trading Wednesday. The stock was priced at $8 when it went public last April.