NEW YORK (TheStreet) -- Conversant (CNVR) soared in aftermarket trading following fourth-quarter and full-year earnings which exceeded expectations.
After the bell, shares were up 13.4% to $24.65.
The personalized digital marketer reported net income of 67 cents a share, 43% higher year-over-year, on $176.4 million in revenue. Analysts surveyed by Thomson Reuters anticipated earnings of 57 cents a share and sales of $168.68 million.
"We delivered solid execution in the fourth quarter, driven by media segment revenues that outperformed across all product lines," said CEO John Giuliani in a statement.Last week, the company, formerly known as ValueClick, unveiled a rebranding and the acquisition of digital advertising firm SET Media. The acquisition allows Conversant to scale its video advertising segment, one of the fastest growing in the business. "Last week we unveiled our company rebrand and launched our largest-ever marketing campaign, highlighting our leading capabilities in personalized digital marketing and sharing our vision for the future," added Giuliani. For the current quarter ending March, the company anticipates revenue between $138 million and $144 million with per-share earnings of 38 cents to 39 cents. Must Watch: ValueClick No More, Conversant Pushing "Personalization" Must Read: Conversant Acquires Digital Video Technology Company SET Media
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