FOSTER CITY, Calif. (AP) _ QuinStreet Inc. (QNST) on Thursday reported fiscal first-quarter net income of $1.1 million.
On a per-share basis, the Foster City, California-based company said it had net income of 2 cents. Earnings, adjusted for stock option expense and non-recurring costs, came to 12 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.
The online marketing services company posted revenue of $126.6 million in the period, topping Street forecasts. Three analysts surveyed by Zacks expected $121.6 million.
QuinStreet shares have dropped 22% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $12.74, a decrease of 27% in the last 12 months.