AUSTIN, Texas (AP) — AUSTIN, Texas (AP) — Digital Turbine Inc. (APPS) on Wednesday reported fiscal third-quarter net income of $4 million.
The Austin, Texas-based company said it had profit of 4 cents per share. Earnings, adjusted for amortization costs and stock option expense, came to 29 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.
The mobile software company posted revenue of $162.3 million in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $184.9 million.
Digital Turbine expects full-year earnings in the range of $1.15 to $1.20 per share, with revenue in the range of $660 million to $670 million.
Digital Turbine shares have climbed slightly more than 6% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $16.21, a fall of 65% in the last 12 months.
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