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 got crushed today, down by 13% at the low after the company reported earnings.
So what: Revenue in the first quarter totaled $33.2 million, which resulted in non-GAAP earnings per share of $0.19. The top line came out slightly ahead of the $33 million consensus estimate, while the bottom line was right on target. NQ now has 111.1 million average monthly active users.
Now what: Second-quarter outlook expects revenue to be in the range of $38.5 million to $38.8 million, and the company raised its full-year sales forecast by $1 million on both the low end and high end. Revenue for 2013 should be $179 million to $184 million. It was a record quarter in terms of sales, but investors were left wanting more. Shares have rallied substantially so far this year, so some profit taking could be occurring as well.
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The article Why NQ Mobile Shares Got Crushed originally appeared on Fool.com.
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