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Digital Turbine (NASDAQ:APPS) posted strong third-quarter results on Wednesday evening, smashing Wall Street s targets across the board. Shares soared 14.8% at the end of the after-hours trading session.
(APPS) - Looking Into Digital Turbine s Return On Capital Employed benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
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What happened
Shares of
Digital Turbine (NASDAQ:APPS) have skyrocketed to all-time highs today, up by 23% as of 11:05 a.m. EST, after the company reported fiscal third-quarter earnings. The results utterly crushed analyst expectations.
So what
Revenue in the fiscal third quarter soared 146% to $88.6 million, well above the $75.9 million in sales that Wall Street was looking for. That resulted in adjusted net income of $20 million, or $0.21 per share. The consensus estimate had called for just $0.18 per share in adjusted profits. The tech company, which operates an on-device media platform, said adjusted EBITDA quadrupled to $22.5 million.
Earnings Scheduled For February 3, 2021 benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
Digital Turbine Reports Fiscal 2021 Third Quarter Results
Accelerating Platform Momentum Drove Third Quarter Revenue of $88.6 Million, Representing 146% Annual Growth
Revenue Diversification Strategy and Scalable Operating Model Are Continuing to Spur Significant Growth in Overall Profitability and Cash Flow
New Credit Facility to Provide Additional Support for Comprehensive Growth Strategy
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AUSTIN, Texas, Feb. 3, 2021 /PRNewswire/
Digital Turbine, Inc. (Nasdaq: APPS) announced financial results for the fiscal third quarter ended December 31, 2020. All operating results and historical comparisons discussed below, except as otherwise specifically noted, refer only to the continuing operations of the Company.
Recent Financial Highlights: