Move Earnings: Here’s Why the Stock is Up Now
Move, Inc. (NASDAQ:MOVE) 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. Shares are up 0.14%.
Move, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 175% to $0.11 in the quarter versus EPS of $0.04 in the year-earlier quarter.
Revenue: Rose 16.59% to $57.49 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Move, Inc. reported adjusted EPS income of $0.11 per share. By that measure, the company beat the mean analyst estimate of $0. It beat the average revenue estimate of $56.17 million.
Quoting Management: “The second quarter was a strong quarter for Move, with both consumer advertising revenue and software and services revenue growing well, resulting in our seventh straight quarter of sequential revenue growth,” said Steve Berkowitz, CEO of Move. “We are very excited about our continued growth and believe we are in a great position to capitalize on the healthy market opportunity in front of us.”
Key Stats (on next page)…
Revenue increased 5.99% from $54.24 million in the previous quarter. EPS increased to $0.11 in the quarter versus EPS of $0.00 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.05 to a profit $0.04. For the current year, the average estimate has moved down from a profit of $0.15 to a profit of $0.12 over the last ninety days.
(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)