TeleNav, Inc. (NASDAQ:TNAV) delivered a profit and beat 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.
TeleNav, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 10.53% to $0.17 in the quarter versus EPS of $0.19 in the year-earlier quarter.
Revenue: Decreased 4.79% to $55 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: TeleNav, Inc. reported adjusted EPS income of $0.17 per share. By that measure, the company beat the mean analyst estimate of $0.08. It beat the average revenue estimate of $52.33 million.
Quoting Management: “We achieved solid financial results in the third quarter, driven primarily by strength in our automotive business, which accounted for 46 percent of total revenue in the period,” said HP Jin, chairman, president and CEO of Telenav. “In addition, this month we completed the sale of our Enterprise business, which enables us to focus more resources on the targeted revenue growth opportunities in our automotive, mobile advertising, and premium LBS.”
Key Stats (on next page)…