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Why LiveDeal (LIVE) Stock Is Up Today

NEW YORK (TheStreet) -- LiveDeal (LIVE - Get Report) was gaining 19.2% to $4.59 Wednesday after announcing a sharp increase in revenue for the fiscal third quarter.

The company reported revenue of $2.67 million for the third quarter, a 340% increase from the year-ago quarter. The company reported a net loss of $1.5 million for the quarter, up from $511,000 in the year-ago quarter.

LiveDeal’s restaurant deals platform ended the quarter with $10.3 million in cash, up from$9.6 million at the end of the previous quarter. Gross margin fell to 11% from 64% in the previous quarter.

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TheStreet Ratings team rates LIVEDEAL INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:

"We rate LIVEDEAL INC (LIVE) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. Among the areas we feel are negative, one of the most important has been weak operating cash flow."

LIVE ChartLIVE data by YCharts

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Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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