06:39 AM EST, 02/05/2025 (MT Newswires) -- Stingray Group (RAY-A.TO, RAY-B.TO), a content distribution and business services company, late on Tuesday reported an increase in fiscal third quarter profit.

Adjusted net income for the quarter rose to $23.4 million, or $0.34 per share, from $18.5 million, or $0.27 per share. The results beat the FactSet consensus estimate of $0.33 per share.

Revenue also increased to $108.2 million from $100.3 million, beating the FactSet consensus revenue estimate of $106.8 million.

Adjusted EBITDA rose to $42.1 million from $38.6 million.

"Robust FAST channel revenue contributions, higher equipment and installation sales related to digital signage, and improved Radio revenues were the primary drivers behind revenue growth year-over-year," said Stingray CEO Eric Boyko.