Shares of Meet Group Slammed 30% After Disappointing 3rd Quarter
Shares of Meet Group, Inc (NASDAQ: MEET), a social meet-up and dating app company with millions of daily active users across brands such as hi5 and MeetMe, are plunging 30% as of 11:10 a.m. EST after the company announced third-quarter results and analysts' downgrades hit the newsfeeds.
Starting from the top, Meet Group posted a healthy 88% year-over-year growth in total revenue, up to $32.2 million, with mobile revenue up 47% to $23.7 million. Adjusted net income checked in at $0.11 per share, up from the prior year's $0.10 per share.
Said CEO Geoff Cook in a press release:
Source: Fool.com
