Rentrak Earnings: Everything You Must Know Now
Rentrak Corporation (NASDAQ:RENT) had a loss 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.
Rentrak Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.06 in the quarter versus EPS of $-0.36 in the year-earlier quarter.
Revenue: Rose 15.85% to $28.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Rentrak Corporation reported adjusted EPS loss of $0.06 per share. By that measure, the company missed the mean analyst estimate of $-0.03. It beat the average revenue estimate of $27.58 million.
Quoting Management: “The fourth quarter capped a fantastic year at Rentrak, as we generated our highest level of quarterly revenue growth in six years. Our success largely reflected strong gains in our TV and movie businesses, as well as the stabilization of our Home Entertainment business, which generated its strongest quarterly growth rate since the third quarter of fiscal 2007,” said Bill Livek, Rentrak’s Vice Chairman and CEO. “During fiscal 2013, our TV business essentially doubled, while our OnDemand Everywhere™ and Box Office businesses showed continued double-digit growth.”
Key Stats (on next page)…