TechTarget Earnings: Here’s Why the Stock is Rising Now
TechTarget, Inc. (NASDAQ:TTGT) had a loss and met 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 up 0.22%.
TechTarget, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.01 in the quarter versus EPS of $0.04 in the year-earlier quarter.
Revenue: Decreased 17.76% to $19.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: TechTarget, Inc. reported adjusted EPS loss of $0.01 per share. By that measure, the company missed the mean analyst estimate of $-0.01. It missed the average revenue estimate of $22.2 million.
Quoting Management: “The steep downturn in the IT market is creating challenges for us. TechTarget is the go-to marketing partner when IT vendors are playing offense. Many of our customers are in defensive mode as they face weak demand and declining revenues,” said Greg Strakosch, TechTarget CEO. “Despite this challenging environment, we are committed to stay the course and to continue to invest in the business, specifically in our international operations, our Activity Intelligence platform and by continuing to introduce innovative new products. Of course, we will manage expenses carefully during this period and will manage the business to produce double-digit adjusted EBITDA margins and positive cash flow in 2013.”
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