Shares of RetailMeNot Inc. (NASDAQ:SALE) were up 19.6% as of 12:15 p.m. EST Tuesday after the company announced stronger-than-expected fourth-quarter 2016 results.
Quarterly revenue climbed 17% year over year, to $96.9 million, while adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) declined 3.6%, to $29.7 million. On the bottom line, adjusted net income fell 4.2%, to $18.3 million, and -- thanks to share repurchases over the past year -- adjusted net income per share increased by a $0.01, to $0.37.
For perspective, these results were near the high end of RetailMeNot's latest financial guidance, which called for revenue in the range of $90 million to $98 million, and adjusted EBITDA of $25 million to $30 million. And analysts, on average, were expecting lower revenue of $95.5 million, with adjusted earnings of $0.31 per share.
"During 2016 we continued to make strides toward our long-term goal of becoming a leading savings destination for consumers," stated RetailMeNot founder and CEO Cotter Cunningham. "While the year had its challenges, we closed out the fourth quarter on a positive note and believe we are well positioned to capitalize on our initiatives in 2017 and beyond."
For the current quarter, RetailMeNot anticipates revenue in the range of $62.5 million to $71.5 million -- the midpoint of which is above the $64.2 million investors were expecting -- and adjusted EBITDA of $7.5 million to $11.5 million.
Finally, for full-year 2017, RetailMeNot expects revenue of $296 million to $326 million, and adjusted EBITDA of $50.5 million to $60.5 million. Here again, Wall Street was modeling lower full-year 2017 revenue of roughly $296 million.
In the end, given this solid quarterly beat and encouraging forward outlook, it's no surprise to see RetailMeNot stock climbing higher today.