YuMe takes 3Q loss, but shares surge aftermarket

YuMe posts loss in first quarter following its IPO, but results beat estimates and stock jumps

Associated Press
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NEW YORK (AP) -- NEWS: YuMe said it took a loss in the third quarter, the first after the company's initial public offering.

DETAILS: The company provides digital video advertising solutions. It said it increased the number of its advertising customers 45 percent compared to the third quarter of 2012.

NUMBERS: YuMe Inc. said Wednesday it lost $627,000, or 3 cents per share. A year ago the company reported $476,000 in net income, and it broke even on a per-share basis. Revenue rose 39 percent, to $36.2 million from $26 million.

FactSet said analysts expected the company to take a loss of 11 cents per share on $34.5 million in revenue.

FUTURE: The Redwood City, Calif., company expects to report $57.4 million to $60.4 million in revenue in the fourth quarter. Analysts are forecasting $60.2 million on average.

STOCK: Shares of YuMe climbed $1.40, or 22 percent, to $7.80 in aftermarket trading. The stock fell 2.1 percent to $6.40 during the day. Its IPO priced at $9 on Aug. 6.

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