Stock Alert: Digital Turbine Trading 26% Higher

(RTTNews) - Shares of media and mobile communication products company Digital Turbine, Inc. (APPS) are rising more than 25% Wednesday morning on the back of upbeat fourth-quarter results. The company also provided first-quarter revenue outlook, better than analysts' view.

The company's earnings on an adjusted basis of $0.05 beat the average estimate of analysts polled by Thomson Reuters at $0.04.

Revenue for the quarter increased 45% year-over-year to $39.4 million.

Looking forward to the first quarter, Digital Turbine expects revenue to be in the range of $47 million - $50 million, better than the consensus estimate of $41.98 million.

" While we expect some near-term uncertainty in terms of device activations amid carrier store closures and associated re-opening timelines, we could not be more pleased with the clear strength in demand that we are witnessing from key advertiser segments, most notably within the mobile gaming, social media, news, content streaming and home delivery segments that collectively comprise the overwhelming majority of our app installs," said Bill Stone, CEO of the company.

Digital Turbine stock is currently trading at $8.69, close to its 52-week high of $9.12. Its 52-week low is at $3.48.