Why Digital Turbine Stock Is Sliding

Digital Turbine Inc APPS shares are trading lower Wednesday 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.

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 is engaged in media and mobile communications, delivering end-to-end products and solutions for mobile operators. The company simplifies content discovery and delivers relevant content directly to consumer devices.

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APPS Price Action: Digital Turbine has traded between $21.43 and $93.98 over a 52-week period.

The stock was down 6.41% at $23.80 at press time.

Photo: JESHOOTS from Pixabay.