NEW YORK (TheStreet) -- Millennial Media (MM) shares are plummeting, down -42% to $3.10 after missing analysts first quarter revenue estimates and reporting second quarter revenue guidance well below analysts estimates.
The independent mobile advertising platform saw a 47% increase in revenue to $72.6 million, missing analysts consensus revenue estimates of $75.5 million.
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The company posted a net income loss of $12.9 million, or -12 cents per diluted share, a -7 cent decline from the loss it posted last year.
The company also lowered its second quarter guidance to between $70 million and $75 million, below analysts consensus estimates of $96.2 million.
TheStreet Ratings team rates MILLENNIAL MEDIA INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate MILLENNIAL MEDIA INC (MM) a SELL. This is driven by some concerns, 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. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."
Highlights from the analysis by TheStreet Ratings Team goes as follows: