Investors warm to Emblaze results

Shares buck the downward trend...

Shares buck the downward trend...

Israeli streaming media firm Emblaze has posted a smaller than expected loss, and expressed confidence that it will weather the storm currently pounding the IT sector. The firm reported half-year revenues up 47 per cent to $18.6m and a net loss of $6.25m. It also announced a new deal with Italian ISP Wind for its mobile streaming technology platform. In a statement to the London Stock Exchange, Emblaze chairman Naftali Shani said he remained confident, despite the fact that he did not expect poor economic conditions to improve in the short term. Shares in Emblaze, which changed its name from Geo Interactive in February this year, rose 1.6 per cent on the news, defying the trend for sharp falls for many technology companies in morning trading.