DG FastChannel Shares Soar 16% On Earnings Beat (DGIT)
Shares of DG FastChannel, Inc. (Nasdaq: DGIT) are trading up 16.6% at $27.43 per share during the Thursday afternoon trading session. The day's trading range for shares of DG FastChannel, Inc has been between $25.50 and $27.75 per share. Analysts covering the company's stock give it a consensus price target of $32.20 per share.
Volume of 900,000 shares is still below the daily average volume of 1.5 million shares.
DG FastChannel, Inc. (DGIT) announced on Thursday morning that it beat consensus Wall Street expectations. DG FastChannel, Inc announced 3rd quarter adjusted earnings per share of 44 cents, on revenue of $56.94 million.
According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 30 cents per share, on revenue of $52.39 million.
Chairman and CEO Scott Ginsburg said, "The Q3 results were driven by 59% growth in HD revenues, a result of both increasing demand from marketers and advertisers for HD spots, as well as accelerating HD adoption by the leading network and television broadcasters. A solid start to the new television season and strong performance in the entertainment and automotive verticals surpassed Company expectations."
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