Its to do with their payment cycle. Revenues are recognised immediately, payments to supply partners are made within a shorter timeframe than payments are received from the advertisors. This means that much of the cash receipts from thic quarters 4c were recognised as revenue in the last quarter. I cant recall the payment cycle time difference however. Perhaps 30 days for payables and 60 days for receivables?
TMP Price at posting:
7.7¢ Sentiment: Hold Disclosure: Held
