By Katherine Hamilton
Shares of Digital Turbine climbed after the company posted better-than-expected fiscal third-quarter revenue and raised its 2025 outlook.
The stock rose 59% to $4.05 in morning trading Thursday. It has lost about 23% of its value over the past year.
The Austin, Texas, advertising company posted a loss of $23.1 million, or 22 cents a share, for the quarter ended Dec. 31, compared with $14.1 million, or 14 cents a share, the previous year.
Adjusted earnings per share were 13 cents a share, ahead of the 1-cent loss expected by Wall Street, according to FactSet.
Revenue slipped 5.6% to $134.6 million. Analysts polled by FactSet expected $123.7 million in revenue.
Digital Turbine raised its 2025 revenue outlook to between $485 million and $490 million, up from previous guidance of $475 million to $485 million. Analysts were expecting $477 million.
The third-quarter results represent an improvement from the previous quarter, when revenue fell 17% year over year, missing Wall Street's estimates, and the company lowered its full-year revenue outlook from prior guidance of $550 million at the midpoint.
Strong advertiser and publisher demand helped drive revenue in the third quarter, Chief Executive Bill Stone said.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
February 06, 2025 10:21 ET (15:21 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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