Shares of mobile technology company Digital Turbine (NASDAQ:APPS) are trading higher after the company reported first-quarter financial results Tuesday after market close.
• Digital Turbine shares are climbing with conviction. Why is APPS stock up today?
Digital Turbine Q1 Earnings
Digital Turbine reported first-quarter revenue of $166 million, up 27% year-over-year. The revenue total beat a Street consensus estimate of $150 million, according to data from Benzinga Pro.
On Device Solutions net revenue was $110 million, up 15% year-over-year.
App Growth Platform net revenue was $56.6 million, up 56% year-over-year.
The company reported 19 cents in earnings per share for the quarter, beating a Street consensus estimate of 14 cents per share.
"Our strong first quarter results reflect an encouraging start to the new fiscal year and position the company for sustained success moving forward," Digital Turbine CEO Bill Stone said.
What’s Next for Digital Turbine
The company is raising its full-year revenue guidance to a range of $650 million to $670 million, up from a previous range of $630 million to $650 million.
Analysts expect the company to post full-year revenue of $642.19 million according to data from Benzinga Pro.
Guidance for adjusted EBITDA for the full year is a range of $145 million to $155 million.
"One key tailwind helping to drive this improved performance is our ability to successfully leverage AI partnerships and tools to optimize the value of our vast data sources as a means of driving better results for platform partners and advertisers," Stone said.
Stone said AI has helped bring the company new partners and advertisers and improved yields on advertising spend.
APPS Stock Price Action
Digital Turbine stock is up 17.2% to $11.15 in after-hours trading Tuesday versus a 52-week trading range of $2.74 to $13.60.
JHVE Photo from Shutterstock
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