While Concurrent reported gains in both revenue and net income for the quarter ending June 30, stock in the video-on-demand technology provider dropped more than 5 percent Wednesday morning, hours after it released earnings.
Concurrent said it struck a deal with British MSO Virgin Media, which will use its MediaHawk product to power its cloud-based Virgin TV Anywhere service.
Virgin Media, in the throes of being acquired by Liberty Global for $23.3 billion, is still plowing ahead with a TV Anywhere (others call it TV Everywhere) effort and has chosen Concurrent for its content delivery network (CDN) technology.
While Concurrent saw its video revenue drop slightly in the quarter ending Dec. 31, the video-on-demand technology vendor said it is looking to drive sales by investing in software that cable operators can use to deliver programming to connected TVs.
Concurrent released a new version of its MediaHawk video-on-demand software that it says could be used to deliver programming to cable subscribers with connected TVs.
Video-on-demand vendor Concurrent blamed decreased revenue during its fiscal fourth quarter on reduced spending by its top customers, which are major cable MSOs.
Concurrent (Nasdaq: CCUR), a long-time vendor in the cable TV business, is now supporting dynamic ad insertion for VOD programming through a new software update to its MediaHawk VX server. The
Video-on-demand technology vendor SeaChange International (Nasdaq: SEAC) announced a round of layoffs that the company said will reduce its costs by about $5 million annually. The cuts were announced
Video-on-demand technology vendor Concurrent (Nasdaq: CCUR) said it generated $15.1 million in revenue during its fiscal fourth quarter, down from the $18.1 million it had posted during the same