NEW YORK (TheStreet) -- Millennial Media (MM) hit a 52-week low of $2.49 on Tuesday after the advertising company reported second-quarter earnings and issued third-quarter guidance that came up short of analysts' expectations.
The company's net loss widened to $15.1 million, or 14 cents, from $3.1 million, or 4 cents a share, in the same period one year earlier. Adjusted net loss per share was 6 cents compared to net income of 2 cents in the same period one year earlier. Revenue increased 18.1% year-over-year to $67.3 million from $57 million.
The consensus estimate called for a loss of 12 cents a share on revenue of $73.2 million.
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Millennial Media also issued third-quarter revenue guidance in the range of $65 million to $70 million, short of analysts' expectation of $77.95 million.
The stock was down 14.9% to $2.51 at 11:12 a.m. More than 7 million shares had changed hands, compared to the average volume of 1,651,530.
Separately, 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 multiple weaknesses, 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 feeble growth in its earnings per share, deteriorating net income, disappointing return on equity and generally disappointing historical performance in the stock itself."