The Big Un Ltd (ASX:BIG) share price has grown by over 3% today on the back of a very positive trading update that was announced to the market this morning.
Big Un is the parent company of Big Review TV, which operates in the online video space to deliver subscription-based video products and services. It's currently operating in Australia, New Zealand, the US, Hong Kong, Singapore and Canada.
The company announced that cash receipts from customers for the quarter was $22.5 million. This represented an increase of 459% compared to the prior corresponding period of December 2016.
It also represented growth of 50% compared to September 2017 quarter, which was impressive for just three months.
The company disclosed that those numbers included $2.2 million in cash receipts in relation to US customers and $2.1 million earned by BHA Media and the newly acquired FAB Media.
Richard Evertz, Big Un CEO and co-founder, said "the underlying growth from pillar one in Australia remains strong, and our US results underline further enormous growth opportunity for our unique business model. We are currently executing a controlled US expansion plan and it is gratifying to see early US results are exceeding our expectations."
"We are also pleased to observe the continued growth in Australian revenue which is further supplemented by cash receipts from BHA and FAB Media subsidiaries following BIG's successful collaboration and integration with traditional media services. The outlook for BIG is exciting and extremely positive."
Foolish takeaway
Big Un has demonstrated very impressive growth over the past two years and it could keep expanding strongly into other countries. If the growth continues at this rate the FY18 result could be very positive.
Although I'm not going to be an investor in Big Un, I will continue following its growth trajectory with interest.
