The Rubicon Project Inc (NYSE:RUBI) stock was down on Wednesday following a poor outlook for its fiscal first quarter of 2017.
The Rubicon Project Inc says that it expects revenue for its fiscal first quarter of 2017 to be between $41 million and $45 million. This has its low and high outlook for the quarter coming in below Wall Street’s revenue estimate of $57.91 million for the period.
The Rubicon Project Inc is also expecting losses per share for its fiscal first quarter of 2017 to range from 26 cents to 22 cents. This is well below analysts’ estimates, which have the company reporting earnings per share of 15 cents for the quarter.
The Rubicon Project Inc’s outlook for its fiscal first quarter of the year was released in its earnings report for its fiscal fourth quarter of 2016. The company’s earnings for the quarter were positive, but were overshadowed by its poor outlook for the upcoming quarter.
Earnings per share reported by The Rubicon Project Inc during its fiscal fourth quarter of 2016 was 37 cents. This is a decrease from its earnings per share of 74 cents from the same time last year. However, it came in above Wall Street’s earnings per share estimate of 10 cents for the quarter.
During its fiscal fourth quarter of 2016, The Rubicon Project Inc reported revenue of $72.70 million. The tech company reported revenue of $94.00 million in the same period of the year prior. Analysts were expecting it to report revenue of $54.03 million during its fiscal fourth quarter of 2016.
RUBI stock was down 28% as of Wednesday afternoon.