Why YuMe (YUME) Stock Is Tumbling After Hours

NEW YORK (TheStreet) -- YuMe (YUME) stock is tumbling in post-market trading after the digital advertising platform recorded quarterly net losses wider than analysts expected and as management guided for below-consensus revenue in its second quarter.  

After the bell, shares dropped 7.9% to $5.95.

In its first quarter ended March, the company reported a net loss of 16 cents a share, a penny wider than analysts surveyed by Thomson Reuters expected. However, revenue of $37.29 million was 40.1% higher year over year and exceeded estimates of $35.36 million. 

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For its second quarter, management issued revenue guidance between $40 million and $42 million. Analysts forecast revenue of $44.11 million. 

The Redwood City, Calif.-based company also announced its CFO Timothy Laehy would step down from his position, effective May 23. Laehy will be succeeded temporarily by VP of finance Tony Carvalho. 

"After building YuMe's finance team and leading the company through its IPO process, the time is right for me to return to my passion and pursue an early-stage growth company opportunity," Laehy said in a statement.

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