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Digital Turbine: Fiscal 2Q Earnings Snapshot

·1 min read

AUSTIN, Texas (AP) _ Digital Turbine Inc. (APPS) on Thursday reported fiscal second-quarter net income of $373,000, after reporting a loss in the same period a year earlier.

On a per-share basis, the Austin, Texas-based company said it had net income of less than 1 cent. Earnings, adjusted for non-recurring costs and stock option expense, were 15 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.

The mobile software company posted revenue of $70.9 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $60.8 million.

For the current quarter ending in January, Digital Turbine expects its per-share earnings to range from 15 cents to 16 cents.

The company said it expects revenue in the range of $72 million to $75 million for the fiscal third quarter.

Digital Turbine shares have more than quadrupled since the beginning of the year. In the final minutes of trading on Thursday, shares hit $31.88, more than quadrupling in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on APPS at https://www.zacks.com/ap/APPS