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Mobile-banking software maker Monitise warns on full-year revenue

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realfast95 Member Level  Monday, 07/06/15 05:32:56 AM
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Mobile-banking software maker Monitise warns on full-year revenue
Mon, 6th Jul 2015 07:50

July 6 (Reuters) - British mobile-banking software maker Monitise Plc said it expected revenue for the year ended June to be lower than the previous year.

The company, which recently formed a joint venture with Spanish bank Santander to invest in financial technology, said it expected revenue to be 88 million pounds to 90 million pounds ($137 million to $140 million) for the year ended June 30.

Analysts are expecting full-year revenue of 91.63 million pounds, according to Thomson Reuters I/B/E/S. Monitise posted revenue of 95.1 million pounds in the previous year.

The company warned in January that revenue would not be as high as expected and its losses would be greater than analysts had expected, blaming changes in its business model. ($1 = 0.6418 pounds) (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Gopakumar Warrier)

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