Babylon Soars to Record High as Profit, Revenue More Than Triple
Babylon Ltd. (BBYL) advanced to the highest level on record after the Israeli maker of translation and dictionary software said first-quarter profit and revenue more than tripled.
The shares rose 3.5 percent to 26.12 shekels at 12:59 p.m. in Tel Aviv, the highest intraday level since the shares were listed in Israel in February 2007. The advance lifted the company’s market value to 1.22 billion shekels ($321 million).
Net income rose to 14.4 million shekels from 4.19 million shekels a year earlier as revenue advanced to 113 million shekels from 33 million shekels.
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