FUEL Stock Investors Like Rocket Fuel’s Record Q4 Revenue

It expects annual revenue to nearly double this year

   

FUEL Stock Investors Like Rocket Fuel’s Record Q4 Revenue

RocketFuelPromo1 FUEL Stock Investors Like Rocket Fuels Record Q4 RevenueOn Thursday, data solutions provider Rocket Fuel (FUEL) posted sharply higher quarterly and annual revenue, sending FUEL stock surging almost 6% in Friday morning trading.

FUEL stock climbed after Rocket Fuel reported adjusted fourth-quarter net income of $2.4 million, compared to an adjusted net loss of $1.9 million during the year-ago period. FUEL said it generated revenue of $85.6 million during the quarter, up 113% from the prior year.

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For fiscal 2013, FUEL said it generated revenue of $240.6 million, up 126% from 2012, and posted an adjusted net loss of $5.4 million, wider than the adjusted net loss of $4.7 million reported in 2012. 

FUEL forecasts first-quarter 2014 revenue between $73 million and $76 million. For fiscal 2014, it expects revenue of between $420 million and $435 million.

During 2013, FUEL said it increased its payroll to 619, almost double its workforce in the prior year.

Rocket Fuel held a successful IPO in September, closing at more than double its $29 a share opening price. On Thursday, FUEL stock closed at $52.77 a share.


Article printed from InvestorPlace Media, http://investorplace.com/2014/02/fuel-stock-investors-like-rocket-fuels-record-q4-revenue/.

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