Digital Turbine Stock Is Tumbling On Q3 Earnings: The Details
Portfolio Pulse from Adam Eckert
Digital Turbine Inc (NASDAQ:APPS) reported a decline in fiscal Q3 earnings with revenue of $142.6 million, a 12% decrease year-over-year, missing analyst estimates. Adjusted earnings per share fell to 15 cents from 29 cents. The company cited weaker U.S. device upgrade rates and temporary platform consolidation as near-term challenges but remains optimistic about future growth opportunities, especially in alternative app distribution. Digital Turbine anticipates full-year 2024 revenue between $547 million and $553 million, with adjusted earnings per share of 50 to 54 cents. Shares fell 16.67% after hours to $4.20.
February 07, 2024 | 10:36 pm
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Digital Turbine reported a decrease in fiscal Q3 earnings with revenue and EPS below estimates, causing shares to fall 16.67% after hours.
The reported decline in revenue and earnings per share for Digital Turbine, coupled with the company's shares falling significantly after hours, suggests a negative short-term impact on the stock price. The miss on both top and bottom lines compared to analyst expectations typically leads to a decrease in investor confidence and can result in a short-term drop in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100