RetailMeNot Beats Q3 Estimates

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RetailMeNot Inc
SALE
reported better-than-expected earnings for the third quarter on Tuesday. The Austin, Texas-based company reported quarterly net income of $343,000, or $0.01 per share, compared to $2.5 million, or $0.05 per share, in the year-ago quarter. Excluding one-time items, the company's adjusted earnings came in at $0.12 per share. Its revenue dropped 7 percent year-over-year to $52.4 million. However, analysts were expecting earnings of $0.04 per share on revenue of $48.58 million. The average estimate among 11 Estimize users was for earnings of $0.04 per share and revenue of $48.83 million. In-store + advertising net revenue surged 91 percent to $11.8 million in the latest quarter, while mobile online transaction revenue rose 55 percent to $4.9 million. Desktop online transaction revenue dropped 24 percent to $35.8 million. Its adjusted EBITDA declined to $11.8 million from $16.7 million. Total visits shrank 1 percent to 159.7 million for the quarter. Mobile visits climbed 41 percent to 67.2 million in the quarter, while desktop visits slipped 19 percent to 92.5 million. "I'm pleased with our performance on mobile online transaction and in-store and advertising net revenues, and adjusted EBITDA during the third quarter," said Cotter Cunningham, CEO & Founder, RetailMeNot, Inc. "We believe our large and engaged audience coupled with our differentiated content types will position us well for future success, both online and in-store." For the current quarter, RetailMeNot projects revenue of $74 million to $76 million, versus analysts' estimates of $74.07 million. The company projects full-year revenue of $240 million to $242 million, versus analysts' expectations of $236.47 million. RetailMeNot shares fell 0.23 percent to close at $8.77 yesterday.
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Posted In: EarningsNewsGuidanceprofit
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