Move Earnings: Here’s Why the Stock is Rising Now
Move, Inc. (NASDAQ:MOVE) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 2.26%.
Move, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 50% to $0.06 in the quarter versus EPS of $0.12 in the year-earlier quarter.
Revenue: Rose 11.49% to $52.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Move, Inc. reported adjusted EPS income of $0.06 per share. By that measure, the company missed the mean analyst estimate of $0.07. It beat the average revenue estimate of $51.71 million.
Quoting Management: Steve Berkowitz, chief executive officer of Move said, “Move finished the year strongly, setting the stage for double-digit revenue growth in 2013. We executed very well across our core strategic initiatives in 2012 by improving the content and experience for consumers, enhancing our product offerings to customers, strengthening our role as a key partner to the real estate industry, and innovating to capitalize on the rapid consumer migration to mobile. Leveraging our expanding assets for consumers and customers, Move has laid the foundation to accelerate growth and expand profitably in 2013 and beyond. Through our consumer advertising and proprietary software and services products, we are uniquely poised to provide an end-to-end solution for the industry based on our ability to serve the entire supply chain.”
Key Stats (on next page)…