Bulging pipeline boosts InternetQ

InternetQ, the mobile marketing and digital entertainment company, said its mobile marketing pipeline is at a record level.

In a somewhat tendentious statement, the company opted to remind investors of its low levels of exposure to Greece and the rest of the stricken Eurozone. At the same time, it played up its partnerships in Russia, Africa and Asia, which are going well, prompting the company to express confidence in meeting both revenue and profit targets for the whole of 2012.

InternetQ cautions that, while its mobile marketing pipeline is at its "highest ever level", not all deals in the pipeline translate into firm commitments.

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The roll-out of AKAZOO, the company's mobile driven, social music network, is on track with the initial schedule, except in Brazil and Indonesia, where the firm says roll out will be complete in the "coming weeks".

At the end of April 2012, AKAZOO was available in 20 countries, with 3.2 million registered users and more than 0.5 million paying subs.

By 11:10, InternetQ shares were up 3.5%, so far this year the stock is up 56%.

BS