Digital Turbine Tanks As Q1 Outlook Remains Below Estimates

(RTTNews) - Shares of mobile advertising company Digital Turbine, Inc. (APPS) are down more than 19% Wednesday morning after the company's first-quarter outlook came in below analysts' view.

For the first quarter, the company expects revenue to be in the range of $183 million- $187 million and adjusted EPS to be between $0.34 and $0.35.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.44 per share on revenue of $357.05 million.

Net income for the fourth quarter declined to $20.1 million or $0.19 per share from $30.06 million or $0.31 per share in the same quarter a year ago, hurt by higher expenses.

Excluding one-time items, earnings of $0.39 per share met the consensus estimates.

Revenue for the quarter, however, increased 94% year-over-year to $184.14 million.

APPS, currently at $20.51, has touched a new low of $19.21 this morning.