UPDATE: RetailMeNot Posts Upbeat Q4 Earnings, Issues Weak Revenue Outlook

Shares of

tumbled more than 11% in pre-market trading after the company reported stronger-than-expected earnings for the fourth quarter, but issued a weak revenue forecast. For the full year, the company projects revenue of $275 million to $285 million, versus analysts' estimates of $305 million. For the current quarter, RetailMeNot expects revenue of $57 million to $60 million, versus analysts' expectations of $68 million. The Austin, Texas-based company posted a quarterly profit of $14 million, versus a year-ago profit of $13.8 million. Its per-share earnings came in flat at $0.26. Excluding items, the company earned $0.43 per share. Its revenue gained 11.4% to $87.4 million. However, analysts were expecting earnings of $0.32 per share on revenue of $86.1 million. Its mobile net revenue jumped 90% to $22.2 million in the quarter. Net revenue from international markets climbed 7% to $17.5 million. Visits rose 23% to 226.2 million. Adjusted EBITDA climbed 17% to $36.1 million in the quarter. The company's board also approved a $100 million share buyback program. "I'm pleased that in 2014 we were able to deliver strong revenue growth and cash flow, reflecting the value of our marketplace to both consumers and retailers," said Cotter Cunningham, CEO and founder, RetailMeNot, Inc. "In 2015, we are investing in our highest growth areas, such as mobile and in-store, which we believe are the future drivers of our business." RetailMeNot shares fell 11.44% to $13.70 in pre-market trading.