Connect with us

Stocks

APPS Stock Plummets 14% After Digital Turbine Earnings Miss Estimates

Digital Turbine (NASDAQ:APPS) stock is falling due to its earnings report.
The company missed EPS and revenue estimates for the quarter.
It also has a weak outlook for the upcoming period.

Source: JHVEPhoto / Shutterstock.com

Digital Turbi…

  • Digital Turbine (NASDAQ:APPS) stock is falling due to its earnings report.
  • The company missed EPS and revenue estimates for the quarter.
  • It also has a weak outlook for the upcoming period.

Source: JHVEPhoto / Shutterstock.com

Digital Turbine (NASDAQ:APPS) stock is falling hard on Wednesday after the monetization company reported results for its fiscal fourth quarter of 2022.

The bad news for APPS stock starts with adjusted earnings per share of 39 cents. That’s worse than the 44 cents per share that Wall Street was expecting for the quarter. Even if it is an increase over the 25 cents per share reported during the same time last year.

Advertisement

Adding to APPS stock’s trouble is revenue of $$184.1 million. Yet again, that comes in nowhere close to the $357.05 million in revenue that analysts were expecting. That’s despite it being a 94% increase year-over-year on a reported basis.

Digital Turbine’s outlook for its fiscal first quarter of 2023 also isn’t helping out APPS stock today. The company expects adjusted EPS ranging from 34 cents to 35 cents on revenue of $183 million to $187 million. For the record, Wall Street is estimating an adjusted EPS of 50 cents on revenue of $396.59 million for that quarter.

Advertisement
  • 7 Undervalued Large-Cap Stocks to Buy for June

Bill Stone, CEO of Digital Turbine, said the following in its earnings release.

“While macro headwinds will present certain challenges for nearly all companies in the short-term, I am confident that those headwinds will be less impactful for highly profitable growth businesses like ours generating nine-figures of free cash flow per year.”

Heavy trading of APPS stock follows its most recent earnings report today. That has some 9 million shares on the move, as compared to its daily average trading volume of 2.8 million shares.

Advertisement

APPS stock is down 14.1% as of Wednesday morning.

Investors seeking more stock market news are in luck!

Advertisement

We’ve got all the hottest stock news that traders need to know about today. That includes what has Chinese EV stocks moving, this morning’s biggest pre-market stock movers, and a counter to meme stocks. You can read all of this news at the links below!

Advertisement

More Wednesday Stock Market News

  • Chinese EV Stocks NIO, LI, XPEV Gain on May Deliveries
  • Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Wednesday
  • Billionaire Ken Griffin Famously Bet Against Meme Stocks. Here’s What He Is Betting on Instead.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

More From InvestorPlace

  • Stock Prodigy Who Found NIO at $2… Says Buy THIS
  • It doesn’t matter if you have $500 in savings or $5 million. Do this now.
  • Get in Now on Tiny $3 ‘Forever Battery’ Stock

The post APPS Stock Plummets 14% After Digital Turbine Earnings Miss Estimates appeared first on InvestorPlace.

InvestorPlace| InvestorPlace

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *