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May 15, 2012 02:11 am GMT
In its first-ever earnings report as a publicly traded company, mobile advertising network Millennial Media said its net loss for the first quarter widened to $4 millionon increased costs. Revenues were up 53 percent year-over-year to $32.9 million.Millennial's shares fell by 7.7 percent in after-hours trading, as the company's annual forecast missed estimates.For the year, Millennial is looking at $173 million and 176 million inannual revenues, which would be up by68 percent from the year before. But that's actually lower than the$202.8 million analysts were expecting on average, according to a Bloomberg survey.When the company went public two months ago, its shares popped more than 100% on the first day and gave the company a nearly $2 billion valuation. Since then, they've settled and fallen by 67 percent, giving the company a market cap of $1.16 billion.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/6xEvJqWc3KM/
In First Report As A Public Company: Millennial Medias Net Loss Widens To $4M, Revenues Up 53%
In its first-ever earnings report as a publicly traded company, mobile advertising network Millennial Media said its net loss for the first quarter widened to $4 millionon increased costs. Revenues were up 53 percent year-over-year to $32.9 million.Millennial's shares fell by 7.7 percent in after-hours trading, as the company's annual forecast missed estimates.For the year, Millennial is looking at $173 million and 176 million inannual revenues, which would be up by68 percent from the year before. But that's actually lower than the$202.8 million analysts were expecting on average, according to a Bloomberg survey.When the company went public two months ago, its shares popped more than 100% on the first day and gave the company a nearly $2 billion valuation. Since then, they've settled and fallen by 67 percent, giving the company a market cap of $1.16 billion.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/6xEvJqWc3KM/
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