Millennial Media Earnings: Here’s Why the Stock is Down Now
Millennial Media, Inc. (NYSE:MM) had a loss and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 2.93%.
Millennial Media, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.01 in the quarter versus EPS of $-0.05 in the year-earlier quarter.
Revenue: Rose 50.02% to $49.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: reported adjusted EPS loss of $0.01 per share. By that measure, the company beat the mean analyst estimate of $-0.02. It missed the average revenue estimate of $49.53 million.
Quoting Management: “We’ve gotten off to a solid start this year, with good growth and continued innovation,” said Paul Palmieri, Millennial Media’s President and CEO. “Usage of our platform continued to grow, with strong margins. We delivered a major new release of our SDKs, we closed on our acquisition in the programmatic mobile space, and we delivered financial performance consistent with or ahead of our prior guidance.”
Key Stats (on next page)…