Digital Turbine Smashes Street Targets; Shares Jump 15%
Content discovery technologist Digital Turbine (NASDAQ: APPS) posted strong third-quarter results on Wednesday evening, smashing Wall Street's targets across the board. Shares soared 14.8% at the end of the after-hours trading session.
Digital Turbine's third-quarter revenue rose 146% year over year, landing at $88.6 million. Adjusted earnings jumped from $0.05 to $0.21 per diluted share. Your average Wall Street analyst would have settled for earnings of roughly $0.17 per share on sales near $75.9 million.
Looking ahead to the fourth quarter, management's guidance pointed to fourth-quarter revenue of roughly $80.5 million and EPS in the neighborhood of $0.26. The current Street consensus for that reporting period stops at $74.6 million and $0.17, respectively.
Source Fool.com
