Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of NQ Mobile have popped today by as much as 22% after the company reported fourth-quarter earnings.
So what: The jump comes after Monday's 21% jump, which was due to scoring a big services contract. Revenue in the fourth quarter totaled $30 million, ahead of the $29.1 million consensus estimate. Non-GAAP earnings per share was $0.23, also topping the Street forecast of $0.16 by a healthy margin.
Now what: Outlook was also rosy, with first-quarter sales expected in the range of $32.8 million and $33.3 million, while investors were expecting just $29.7 million in revenue in the current quarter. The big picture gets even better, with NQ raising full-year 2013 revenue guidance to $178 million to $183 million, up from the prior range of $150 million to $155 million. The market would have been happy with just $154 million in 2013 sales.
Interested in more info on NQ Mobile? Add it to your watchlist by clicking here.
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The article Why NQ Mobile Shares Popped originally appeared on Fool.com.
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