MeetMe Lifts Q2 Revenue Guidance; Stock Up

(RTTNews) - MeetMe Inc (MEET) on Tuesday increased its revenue guidance for the second quarter, citing the progress made in transitioning management of its advertising inventory in-house earlier this month.

The company now expects second-quarter revenues of $10.5 million to $10.7 million, above its prior guidance of $9 million to $9.5 million. Analysts polled by Thomson Reuters expect revenues of $9.25 million.

The company now projects second-quarter adjusted EBITDA of $1.5 million to $2.0 million, from prior guidamce of $250,000 to $750,000.

MeetMe, based in New Hope, Pennsylvania, operates a social network for meeting new people on the Web and on mobile platforms.

Shares of the company gained $0.23 or 15.97% at $1.67 in after-hours trade on the Nasdaq.