Why RetailMeNot (SALE) Stock Is Tanking In After-Hours Trading Today

Update: This article previously reported RetailMeNot's GAAP earnings instead of their non-GAAP earnings. Article has been updated to reflect the company's non-GAAP earnings.

NEW YORK (TheStreet) -- RetailMeNot (SALE) shares are declining -5.5% to $23.90 after reporting a 16% decline in second quarter net income from the previous year to $4.3 million, or an adjusted 18 cents per diluted share, 1 cent better than analysts were expecting for the quarter.

Revenue for the quarter was $59.5 million, just short of analysts $60 million expectations. 

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

SALE ChartSALE data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

More from Markets

Global Fund Managers Bearish on Trade War Concerns, Still Love Tech -BAML Survey

Global Fund Managers Bearish on Trade War Concerns, Still Love Tech -BAML Survey

Netflix, Amazon, Jerome Powell, Walmart and Microsoft - 5 Things You Must Know

Netflix, Amazon, Jerome Powell, Walmart and Microsoft - 5 Things You Must Know

Netflix Slumps After Weak Subscriber Growth in 'Strong but not Stellar' Q2

Netflix Slumps After Weak Subscriber Growth in 'Strong but not Stellar' Q2

Stocks Drift, Oil Steadies, Dollar Dips as Investors Question Growth Prospects

Stocks Drift, Oil Steadies, Dollar Dips as Investors Question Growth Prospects

Jerome Powell Heads to Capitol Hill as Market's Best Recession Gauge Blinks Red

Jerome Powell Heads to Capitol Hill as Market's Best Recession Gauge Blinks Red