NEW YORK (TheStreet) -- YuMeundefined is plummeting on Friday after reporting below-consensus quarterly revenue and providing soft guidance for fiscal 2014.
By late afternoon, shares had taken off 18.3% to $6.26. Trading volume of 1.65 million was more than 8 times higher than its three-month daily average.
After the bell Thursday, the digital advertising specialist reported fourth-quarter revenue of $54.04 million, a 19% year-over-year increase. Total sales fell short of consensus by $5.47 million, according to analysts surveyed by Thomson Reuters.
Net income of $5.4 million, or 16 cents a share, came in higher than expected. Analyst consensus was for $4.55 million or 13 cents a share.
The company ended the quarter with 367 advertising customers, a 38% year-over-year increase. However, average revenue per customer fell 14% to $145,000.
Management guided for fiscal 2014 revenue between $190 million and $200 million. Analysts surveyed by Yahoo! Finance had forecast revenue of $203.72 million.
YUME data by YCharts