Shares plunge as provider of mobile-advertising services disappoints

  • Digital Turbine posts 3Q loss and forecasts slowdown
  • Swung to a loss of $14.1 million for the quarter
  • Projected adjusted earnings of 50 cents to 54 cents a share for the year
  • Shares of Digital Turbine down 17% premarket

Shares of Digital Turbine plunged after the provider of mobile-advertising services swung to a loss for the fiscal third quarter, and forecast growth shy of investors’ expectations. The Austin, Texas, digital-ad services firm swung to a loss of $14.1 million, or 14 cents a share, for the quarter ended in December, in contrast to a profit of $4.02 million, or 4 cents a share, a year earlier. For the year ending in March, Digital Turbine projected adjusted earnings of 50 cents to 54 cents a share, on revenue of $547 million to $553 million. Shares of Digital Turbine slid 17% to $4.16 premarket, and are down more than 50% in the last six months.

Public Companies: Digital Turbine (Unknown)
Private Companies:
Key People: Bill Stone (Chief Executive)

Factuality Level: 7
Justification: The article provides specific financial information about Digital Turbine, including their loss for the fiscal third quarter and their projected earnings for the year. The information is presented without any obvious bias or opinion. However, the article does not provide any additional context or analysis, which could have helped to better understand the reasons behind the loss and the projected growth. Overall, the article seems to be factually accurate but lacks depth.

Noise Level: 3
Justification: The article provides relevant information about Digital Turbine’s financial performance and future projections. It includes quotes from the CEO and mentions the decline in share price. However, it lacks in-depth analysis, evidence, or actionable insights.

Financial Relevance: Yes
Financial Markets Impacted: Shares of Digital Turbine

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to the financial performance of Digital Turbine, a provider of mobile-advertising services. It discusses the company’s swing to a loss for the fiscal third quarter and its forecasted growth below investors’ expectations. There is no mention of an extreme event or its impact.

Reported publicly: www.marketwatch.com