Digital Turbine (NASDAQ:APPS) is seeing shares of APPS stock soar higher on Thursday after releasing earnings for its fiscal third quarter of 2021 on Wednesday.
The earnings report includes adjusted earnings per share of 21 cents on revenue of $88.6 million. These both beat out Wall Street’s estimates for the quarter while also climbing above what was reported in fiscal Q3 2020.
Following the positive earnings news, APPS stock is seeing heavy trading. As of this writing, some 4 million shares have changed hands. This puts it above its daily average trading volume of 3.6 million shares.
Keeping all of this in mind, it makes sense that investors will want to know more about APPS stock. That’s where the breakdown below comes into play.
- Digital Turbine is a company that helps apps find their way onto devices.
- This has it securing deals that cause apps to be pre-installed on devices before customers purchase them.
- That means those apps are already on the device when the owner first boots it up.
- This can lead to increased awareness of the app and more revenue for its creator.
- Digital Turbine notes that it works with more than 40 mobile operators and OEMs.
- It also points out that its service has provided “more than three billion app preloads for tens of thousands advertising campaigns.”
- The company is based out of Austin, Texas, and has offices around the world.
APPS stock was up 20.9% as of Thursday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.