By Joe Hoppe
Trustpilot Group shares rose after the company said it expects full-year adjusted earnings to beat market views, and that its first-half pretax loss narrowed while revenue rose.
Shares at 0829 GMT were up 13.85 pence, or 17%, at 97.0 pence.
The London-listed review website for businesses said Tuesday that its pretax loss narrowed to $4.0 million from $9.2 million a year prior.
Revenue rose to $84.6 million from $73.4 million. Bookings increased 16% on a constant-currency basis to $99.2 million from $86.7 million, which it said reflects resilience against a challenging macroeconomic backdrop.
The company backed its outlook for mid-teens constant-currency revenue growth for the full year. With further operating leverage in the second half, it said it expects adjusted earnings before interest, taxes, depreciation and amortization before the effect of capitalizing sales commissions to exceed the current range of market expectations.
Trustpilot didn’t provide a figure, but a consensus of analysts from FactSet predict 2023 adjusted Ebitda of around $6.35 million.
“The board remains confident in the business delivering sustainable growth and operating leverage over the long term and in the significant and growing long-term market opportunity,” the company said.
Write to Joe Hoppe at joseph.hoppe@wsj.com
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