What: Shares of RetailMeNot (NASDAQ:SALE) rose as much as 28.3% early Tuesday, then settled to trade up 18% as of 11:30 a.m. after the digital offers marketplace announced better-than-expected third-quarter results.

So what: Quarterly revenue fell 7% year over year to $52.4 million, driven by a 91% increase from in-store and advertising revenue to $11.8 million and a 55% increase in mobile online revenue to $4.9 million. Those results were held back, however, by a 24% decline in RetailMeNot's core desktop online transaction segment (including tablet sales) to $35.8 million.

Meanwhile, that translated to GAAP net income of $0.3 million (down from $2.5 million in the same year-ago period). On an adjusted basis, net income fell to $6.3 million (down from $9.1 million), or $0.12 per diluted share. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) fell 29.3% year over year to $11.8 million.

These declines might not sound encouraging, but analysts, on average, were only anticipating adjusted earnings of $0.04 per share on revenue of $48.6 million.

Now what: For the current quarter, RetailMeNot expects revenue of $74 million to $76 million, down around 14% at the midpoint of the range, and adjusted EBITDA of $25 million to $27 million. Again, analysts had expected Q4 revenue near the bottom end of the former range.

Finally, RetailMeNot raised its guidance for the full year, and now expects 2015 revenue of $240 million to $242 million, down 9% over 2014 at the midpoint and compared to its previous outlook for 2015 revenue of $231 million to $239 million. Full-year adjusted EBITDA is now expected to be $66 million to $68 million, up from RetailMeNot's previous guidance of $56 million to $64 million.

All things considered, I'm personally still not intrigued enough to dive in given RetailMeNot's outsized -- albeit decreasing -- reliance on the declining desktop segment, which still comprises nearly 70% of total sales. But today's report is an encouraging step in the right direction for mobile and in-store/ad revenue, and it's hard to blame investors for taking a step back in, with shares still down nearly 30% year to date in 2015. For now, however, I prefer to continue watching from the sidelines until I have a better idea of how sustainable RetailMeNot's progress is over the long term for these key growth drivers. 

Steve Symington has no position in any stocks mentioned. The Motley Fool recommends RetailMeNot. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.