Stock Alert: Digital Turbine At New High On Quarterly Results, Outlook

(RTTNews) - Shares of media and mobile communication products provider, Digital Turbine, Inc. (APPS) are climbing more than 20% on better-than-expected third-quarter results. The company also provided full-year outlook, better than analysts' view.

Net income for the third quarter was $14.5 million, or $0.15 per share compared with $3.3 million, or $0.04 per share in the same quarter a year ago.

On an adjusted basis, earnings were $20.0 million, or $0.21 per share beat the average estimate of analysts polled by Thomson Reuters at $0.17.

Revenue increased 146% year-over-year to $88.6 million.

"Our strong third quarter results represented an acceleration of the breakout momentum achieved in the first half of the fiscal year," said Bill Stone, CEO.

Looking forward to the full year, the company expects revenue to be between $298 million and $300 million and adjusted EPS of $0.67. Analysts have a consensus earnings estimate of $0.63 per share on revenue of $280.37 million.

APPS touched a new high of $79.79 this morning.