Digital Turbine Inc APPS shares are trading lower in Tuesday's after-hours session after the company reported financial results and issued earnings guidance below analyst estimates.
Digital Turbine said fiscal fourth-quarter revenue increased 94% year-over-year to $184.1 million. The company reported quarterly earnings of 39 cents per share, which was in line with analyst estimates, according to data from Benzinga Pro.
"While macro headwinds will present certain challenges for nearly all companies in the short-term, I am confident that those headwinds will be less impactful for highly profitable growth businesses like ours generating nine-figures of free cash flow per year," said Bill Stone, CEO of Digital Turbine.
Digital Turbine said it expects fiscal first-quarter revenue to be between $183 million and $187 million, which may not compare to estimates of $357.05 million. The company expects fiscal first-quarter earnings to be between 34 cents and 35 cents per share versus the estimate of 44 cents per share.
Digital Turbine simplifies content discovery and delivers relevant content directly to consumer devices.
APPS Price Action: Digital Turbine is making new 52-week lows in Tuesday's after-hours session.
The stock was down 14.5% in after hours at $21.75 at press time.
Photo: Lalmch from Pixabay.
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