Why NQ Mobile Shares Popped
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.Fool contributor Evan Niu, CFA, has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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