RetailMeNot Inc (NASDAQ:SALE), an online savings website, saw its stock jump on Tuesday after the company released its earnings report for the second quarter of 2016.
RetailMeNot reported earnings per share of 10 cents for the second quarter of 2016. This is a one penny increase over the earnings per share that it reported during the same time last year. It also came in 6 cents above what Wall Street was expecting from the company in Q2 2016.
RetailMeNot’s revenue for the second quarter of 2016 came in at $64.25 million. This is an increase over the $53.18 million in revenue that it reported during the second quarter of 2015. Analysts were expecting SALE to report revenue of $62.89 million for the quarter.
“Our core segment grew year over year and we continue to see strong growth in our in-store and ads businesses,” Cotter Cunningham, the CEO and founder of RetailMeNot, said in a statement. “We believe we have momentum and a set of initiatives for the second half of 2016 which should deliver audience growth through new content, an enhanced user experience and overall broader, savings-oriented messaging.”
SALE said that it is expecting revenue for the third quarter of the year to be between $61.5 million and $69.5 million. Wall Street is currently expecting the company to report revenue of $64.88 million for that quarter.
RetailMeNot’s outlook for the full year of 2016 has revenue ranging from $275 million to $294 million. Analysts are looking for the company to report revenue of $284.73 for the year.
SALE stock was up 13% as of Tuesday afternoon.
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