Millennial Media (NYSE:MM) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 7%.
Millennial Media Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.02 in the quarter versus EPS of $-0.02 in the year-earlier quarter.
Revenue: Rose 44.63% to $57 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Millennial Media reported adjusted EPS income of $0.02 per share. By that measure, the company beat the mean analyst estimate of $-0.01. It missed the average revenue estimate of $59.24 million.
Quoting Management: “We had a solid growth quarter in 2Q with good showing in international and brand advertising,” said Paul Palmieri, Millennial Media’s President and CEO. “We had strong margins during the quarter with increased platform usage by some of the largest brand advertisers in the world. We are also very pleased to announce our acquisition of Jumptap and look forward to bringing our integrated capabilities to the global mobile advertising market.”