Digital Turbine Stock Is Surging Today: What's Going On?

Digital Turbine Inc APPS shares are soaring Thursday after the company reported mixed fiscal second-quarter results.

Digital Turbine said second-quarter revenue decreased 7% year-over-year to $174.9 million, which missed average analyst estimates of $175.01 million, according to Benzinga Pro. The company reported quarterly earnings of 34 cents per share, which beat average estimates of 33 cents per share.

"In these challenging macroeconomic times, I was pleased that we continue to showcase our profitable business model and ability to expand margins in an inflationary environment," said Bill Stone, CEO of Digital Turbine.

"We have now delivered more than three times the adjusted EBITDA in the past six quarters than we did in the previous six years combined." 

Digital Turbine expects fiscal third-quarter revenue to be between $180 million and $190 million versus average analyst estimates of $203.37 million. The company expects second-quarter earnings to be between 36 cents and 39 cents per share versus average estimates of 38 cents per share.

Digital Turbine is an independent mobile growth platform that levels up the landscape for advertisers, publishers and carriers.

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APPS Price Action: Digital Turbine has a 52-week high of $63.24 and a 52-week low of $10.65.

The stock was up 57.7% at $16.99 at time of publication.

Photo: kiquebg from Pixabay.