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Digital River Inc. (NASDAQ:DRIV) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. Shares are down 4.68%.
Digital River Inc. Earnings Cheat Sheet
Results: Net loss increased to $200.1 million in the quarter versus a net gain of $4.34 million in the year-earlier quarter.
Revenue: Decreased 9.57% to $101.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Digital River Inc. reported adjusted net income of 31 cents per share. By that measure, the company beat the mean analyst estimate of $0.28. It beat the average revenue estimate of $98.2 million.
Quoting Management: “Our fourth quarter revenue and non-GAAP earnings performance was in line with our expectations,” said Tom Madison, Digital River’s chairman and interim CEO. “We continue to focus the organization on initiatives that drive revenue for clients. In addition during the quarter, we divested some non-core assets, reduced expenses in certain areas, as well as repurchased some of our outstanding convertible debt and common stock. In early January, we also completed our acquisition of LML Payment Systems. We plan to accelerate growth across our payments solution this year as we extend LML’s services to Europe and other geographies.”
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