ValueClick Pops Nearly 15% After Updating Q2 Guidance
ValueClick (NASDAQ: VCLK) is trading higher on the session after updating its Q2 guidance last night. The company said it is now expecting revenues to be at the high-end of its previous guidance range of $155-160 million and adjusted-EBITDA to be at the high-end of its previous guidance range of $46-48 million.
James R. Zarley, chief executive officer said, "ValueClick also announced it has increased the amount available under its credit facility by $50 million. “We are executing on our strategic initiatives, which is allowing us to build on our tradition of returning capital to our shareholders. Our increased credit facility and stock repurchase program speak to our conviction about our ability to capture the opportunities in front of us.”
ValueClick is currently trading at $16.11, a gain of $2.01 or 14.25%.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.