NEW YORK (TheStreet) -- Shares of Millennial Media (MM) were falling 15.3% to $1.44 Tuesday after the marketing services company missed analysts' estimates for revenue in the second quarter and lowered its full year guidance.
Millennial Media reported revenue of $65.8 million for the second quarter, down 2.2% from the year-ago quarter, and below analysts' estimates of $69.91 million for the quarter. The company reported a loss of 5 cents a share for the quarter, above analysts' estimates of a loss of 6 cents a share.
Looking to the full year, Millennial Media said it now expects revenue of $267 million to $280 million, down from its previous guidance of $311 million to $342 million for the year. Analysts expect the company to report revenue of $326.9 million for the quarter.
Millennial Media expects revenue of $63 million to $66 million for the third quarter, compared to analysts' estimates of $83.96 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."
You can view the full analysis from the report here: MM Ratings Report