NEW YORK (TheStreet) -- Digital coupon library RetailMeNot (SALE) reported better-than-expected quarterly results which sent shares flying over Thursday's session.
By market close, the stock was up 9.4% to $37.27, and 2.6 million shares had changed hands, well over its three-month average daily volume of 622k.
In the three months to December, net revenue of $78.5 million increased 55% year-over-year, exceeding consensus by $10 million. Net income of 32 cents a share beat estimates by 3 cents, according to analysts surveyed by Thomson Reuters.
Quarterly net revenue generated via mobile was up 179% to $11.7 million.For the full year, total sales of $209.8 million were up 45% compared to 2012, while mobile revenues jumped 213% to $26.6 million. Per-share earnings of $1.07 came in 17 cents higher than expected. By year end, more than 13.7 million apps had been downloaded internationally, including the company's RetailMeNot, VoucherCodes and Poulpeo apps. Over the quarter, mobile app sessions totaled 116.5 million, nearly seven times the fourth quarter a year earlier. "Our strong performance in 2013 was enabled by the investments we have made in people, technology and marketing to position the company for long-term growth. In the fourth quarter in particular, we saw these investments pay off," said CEO Cotter Cunningham in a statement.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV