Digital Turbine (APPS - Free Report) reported third-quarter fiscal 2020 non-GAAP earnings of 5 cents per share, which missed the Zacks Consensus Estimate by 16.7%. However, the reported figure increased 25% from the year-ago quarter.
Revenues of $36.02 million also missed the consensus mark by 5.2% and fell short of the guided range of $37 million to $38.2 million, primarily due to soft device sales at core U.S. operators in November.
However, the figure increased 18.4% on a year-over-year basis primarily driven by higher revenue per device (RPD) from U.S.-based carrier partners and incremental contributions from newer platform products.
U.S. RPD increased year over year, driven by continued strong demand for the Digital Turbine platform among advertisers including Dynamic Installs and other, newer platform products.
Digital Turbine’s mobile device management platform, Ignite, has gained significant traction. As of Nov 4, 2019, more than 325 million devices had Ignite installed.
However, shares of the company decreased 4.8% in pre-market trading, apparently due to soft fourth-quarter guidance for revenues, which are expected to decline sequentially.
Digital Turbine, Inc. Price, Consensus and EPS Surprise