NEW YORK (TheStreet) -- NQ Mobile's (NQ) earnings poured accelerant on the negative sentiment engulfing young tech companies. The Chinese mobile security software and entertainment provider missed consensus EPS estimates by a wide margin. Shares fell nearly 8.7% after-hours, adding to a 4.7% drop earlier in the day.
On StockTwits.com, however, investors remained largely bullish on the company. They called for shares to rebound after a conference call that focused on the company's 126% sales growth, compared to the same period a year ago. Sentiment was 89% bullish, despite the sell off.
$NQ very strong cc!! Shorts its only a matter of time enjoy it while u have it- mike (@MoreCash2014) Apr. 10 at 08:36 PM
NQ Mobile reported $0.22 EPS for the fiscal fourth quarter, a whopping ten cents less than consensus estimates, according to the Analyst Ratings Network. Sales of $67.9 million came in about five million higher than anticipated. During the conference call, management focused on the sales growth, new revenue streams, such as advertising, and user growth. NQ said it brought in $16.7 million in advertising during the last three months of the year compared to $8 million in the same period in 2012.
$NQ notes they have 1,000 advertisers on their platform- Brian Bolan (@bbolan1) Apr. 10 at 08:36 PM
$NQ just going to through this out there... that ad spend per advertiser is magnificently high if true.