NetQin Mobile Inc (NYSE:NQ) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0%.
NetQin Mobile Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 46.15% to $0.19 in the quarter versus EPS of $0.13 in the year-earlier quarter.
Revenue: Rose 108.01% to $33.24 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: NetQin Mobile Inc reported adjusted EPS income of $0.19 per share. By that measure, the company missed the mean analyst estimate of $0.19. It beat the average revenue estimate of $32.98 million.
Quoting Management: “I am pleased to report that we started 2013 with a solid first quarter. We again achieved record revenue and began to realize the significant growth potential and synergy from the acquisition of NationSky and Feiliu,” commented Dr. Henry Lin, Chairman and Co-Chief Executive Officer of NQ Mobile. “NationSky achieved an outstanding quarter and improved its margin significantly by growing its software and services business. Feiliu also launched two self-developed mobile games, Dragon’s Summon and Wulin MengZhu, which have become a great success on the iOS platform in China. In 2013, we will continue our evolution to become a leading mobile Internet platform company by focusing on broadening our service offerings, diversifying our revenue streams and creating synergies among different lines of our businesses, particularly in the China market.”
“In the first quarter, our consumer mobile security business in the international markets continued its strong growth and accounted for approximately 56% of the total consumer mobile security revenues. Furthermore, our investment in the international markets has started to pay off as we have begun to see upward trends in operating margins,” added Omar Khan, Co-Chief Executive Officer of NQ Mobile. “As we continue our strong momentum of international growth through the continued expansion of our retail presence and initiating operations of key carrier partnerships in North and Latin America, we are confident that our international business will further drive and sustain our long term growth.”
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