QuinStreet Earnings: Not Enough to Please Wall Street Analyst Estimates
QuinStreet, Inc. (NASDAQ:QNST) delivered a profit and missed Wall Street’s expectations, AND 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 0.27%.
QuinStreet, Inc. Earnings Cheat Sheet
Results: Net income increased 26.41% to $5.6 million (13 cents per diluted share) in the quarter versus a net gain of $4.43 million in the year-earlier quarter.
Revenue: Decreased 20.74% to $71.75 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: QuinStreet, Inc. reported adjusted net income of 13 cents per share. By that measure, the company missed the mean analyst estimate of $0.15. It missed the average revenue estimate of $77.16 million.
Quoting Management: “Visibility remains limited due to continued product and market transitions in our core Financial Services and Education verticals…