Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of NQ Mobile (NYSE:NQ) got crushed today, down by 13% at the low after the company reported earnings.
So what: Revenue in the first quarter totaled $33.2 million, which resulted in non-GAAP earnings per share of $0.19. The top line came out slightly ahead of the $33 million consensus estimate, while the bottom line was right on target. NQ now has 111.1 million average monthly active users.
Now what: Second-quarter outlook expects revenue to be in the range of $38.5 million to $38.8 million, and the company raised its full-year sales forecast by $1 million on both the low end and high end. Revenue for 2013 should be $179 million to $184 million. It was a record quarter in terms of sales, but investors were left wanting more. Shares have rallied substantially so far this year, so some profit taking could be occurring as well.
Interested in more info on NQ Mobile? Add it to your watchlist by clicking here.