RetailMeNot (SALE) Stock Slips Despite Beating Quarterly Estimates

NEW YORK (TheStreet) -- RetailMeNot (SALE) stock is sliding on Tuesday despite the e-retailer posting better-than-expected earnings and sales over its first quarter.

By midafternoon, shares were down 8% to $30.08.

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The digital coupons site earned 20 cents a share over the three months to March, a penny higher than analysts surveyed by Thomson Reuters forecast. Revenue of $61.3 million was 51.1% higher year over year, exceeding estimates by $5.7 million. 

Management expects second-quarter revenue of $58 million to $60 million and fiscal 2014 revenue between $276 million and $282 million. 

Analysts expected second-quarter revenue of $59.56 million and full-year revenue of $280.85 million. 

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