NEW YORK (TheStreet) -- Shares of mobile Internet services provider NQ Mobile (NQ) continued to decline, down 5.13% to $3.88, in morning trading Monday after the company reported weaker than expected third-quarter earnings late last week.
NQ Mobile posted a net loss of $17 million, or 4 cents a share, wider than a loss of $2.4 million, or a penny per share, in the same period one year earlier.
Revenue rose year-over-year to $81.2 million from $54.2 million, but came up short of analysts' expectations of $90 million.
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NQ Mobile also increased its guidance for full-year 2014 revenue to a range of $325 million to $326 million from a range of $320 million to $325 million. Revenue in 2013 totaled $196.7 million.
Separately, TheStreet Ratings team rates NQ MOBILE INC -ADR as a "sell" with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate NQ MOBILE INC -ADR (NQ) a SELL. This is driven by a number of negative factors, 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, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."