Shares of Digital Turbine (APPS 3.33%), a company that specializes in getting mobile apps into the hands of more users with more effective monetization, jumped on Tuesday. Shares rose as much as 16.8% but were up 13.3% as of 11:45 a.m. EDT.
The stock's gain follows Digital Turbine's better-than-expected fourth-quarter results for fiscal 2019.
Digital Turbine reported fourth-quarter revenue of $27.2 million, up 30% year over year. Non-GAAP earnings per share for the period were $0.03. Both metrics exceeded analysts' average forecasts for revenue and non-GAAP earnings per share of $26.6 million and $0.02, respectively.
Revenue for the full year increased 39% year over year to $103.6 million, driven primarily by "significantly higher revenue-per-device with our large U.S.-based carrier partners, as well as incremental contributions from international partners and other new partners that launched on the platform during the year," explained management in the company's fiscal fourth-quarter and full-year earnings release.
Looking ahead, the company will focus on scaling its platform, explained Digital Turbine CEO Bill Stone in the fiscal fourth-quarter update.
To do this, the company is recruiting international carriers and original equipment manufacturers to expand its global addressable market. In addition, Digital Turbine is bringing to market product features aimed to improve conversion and engagement on mobile ads while enriching the total user experience.
"We believe that by continuing to deliver attractive returns for our many platform constituents, we can expect to deliver attractive returns for our investors," the company said.