Shares of WebMD (WBMD) soared more than 18% in Monday trading after the company issued a more positive outlook for the current quarter and full year.
WBMD share surged after WebMD said that first-quarter EBITDA would be “slightly” higher than the $30.5 million previously forecast as the top of its EBITDA range. WBMD also indicated that quarterly revenue would come close to $133 million. WBMD had issued prior guidance for first-quarter revenue of between $130 million and $133 million. Analysts had estimated quarterly revenue of roughly $132.5 million, FOX Business notes.
For the full year, WBMD now says that net income, EBITDA and revenue will fall into the top half of previously issued guidance. WBMD had forecast 2014 net income between $27 million and $39 million. Adjusted EBITDA for WBMD had been estimated at between $140 million and $155 million. The online medical information provider had said that revenue for the year will be between $545 million and $575 million.
According to WBMD, it saw a 32% jump in unique monthly users to its website. Monthly page views on the WBMD website climbed to 3.5 billion, up 26%.
WebMD stock closed at $37.67 a share on Friday. WBMD stock has gained more than 60% over the past year.
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