BALTIMORE (AP) -- Shares of Millennial Media Inc. fell in aftermarket trading Monday after the mobile advertising company offered disappointing revenue forecasts for the second quarter and the full year.
Millennial Media, which went public in March, said it lost $5.3 million, or 32 cents per share, in the first quarter of 2012. A year ago the company took a loss of $1.3 million, or 8 cents per share. Excluding one-time items, Millennial Media said it lost 5 cents per share in the most recent quarter. Its revenue grew 53 percent, to $32.9 million from $21.5 million.
Analysts expected the company to report a loss of 5 cents per share on $33.2 million in revenue, according to FactSet.
The company is forecasting a second-quarter loss of $3.2 million to $3.5 million excluding interest, taxes, depreciation, amortization, and one-time items like stock-based compensation.
It estimates that its revenue will be between $37 million and $38 million.
For the full year, it expects to lose between $3 million and $4 million. It's forecasting full-year revenue of between $173 million and $176 million.
Analysts had expected the company to take a loss of $2.7 million, or 3 cents per share, in the second quarter and $6.2 million, or 3 cents per share, for the full year. They were projecting $41.4 million in revenue for the second quarter and $196.1 million for the full year.
Shares of Millennial Media rose 18 cents to $15.45 on Monday. Following the earnings report, the shares dropped 77 cents or 5 percent, to $14.68.