Shares of the digital coupon company Quotient Technology (NYSE:QUOT) were flying this morning after the company reported its fourth-quarter earnings results. At one point Thursday morning, shares of Quotient were more than 30% higher from yesterday's close.
Quotient's earnings results missed analysts' expectations. The company reported a fourth-quarter loss of $0.28 per share, much worse than the analyst prediction that it would only lose $0.06 per share.
For the full year of 2020, Quotient lost $0.72 per share. But in terms of revenue, it beat expectations in the quarter with $142.5 million, higher than analysts projected and up by more than 20% year over year. Revenue for the full year also grew from 2019.
Despite the loss in the quarter and on the year, there was news that may excite investors. Quotient announced that the board of directors recently authorized a stock buyback program of up to $50 million in 2021.
Management forecasts strong tailwinds. It believes it will be able to grow revenue this year by 13% from 2020 levels, and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) by roughly 20% from 2020.