TubeMogul (TUBE) Misses Q2 EPS by 4c; Guides Below the Street
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TubeMogul (NASDAQ: TUBE) reported Q2 EPS of ($0.11), $0.04 worse than the analyst estimate of ($0.07). Revenue for the quarter came in at $55.4 million versus the consensus estimate of $58.14 million.
TubeMogul sees Q3 2016 revenue of $53-55 million, versus the consensus of $57.5 million.
TubeMogul sees FY2016 revenue of $217-221 million, versus the consensus of $229.12 million.
“We saw very strong growth in our non-desktop pre-roll channels as brand clients are increasingly using our software to plan and buy campaigns across an array of inventory sources,” said Brett Wilson, CEO of TubeMogul. “As consumption of video becomes increasingly fragmented, brands are relying more heavily on software solutions that allow them to strategically reach incremental audiences beyond traditional TV. Our software enables brands to plan and execute campaigns that complement their TV buy with a high degree of control and transparency, making TubeMogul an essential part of our clients' advertising workflow.”
“Total Spend in Q2 came in slightly below our expectations,” said Wilson. “The transition in ad spending from desktop to mobile is accelerating, and while this impacted our results, this is precisely the trend we anticipated, and we are well positioned over the long term as brands require multi-screen solutions. In particular, the investments we have made in our mobile offering over the last two years evidence our leadership. In Q2, mobile spend through our platform grew 146% and now makes up nearly 30% of our Spend. In addition, Programmatic TV spend grew 143% year over year to over $20 million, nearly twice the level of PTV spend in Q1 2016. Cross-screen platform spend now accounts for 48% of Total Spend as mobile and Programmatic TV growth accelerates. We are confident that our strategy and unique cross-screen capabilities will make us the strategic platform of choice for brands.”
Wilson concluded, “We feel strongly that the investments we have made in PTV, mobile and social, along with the mix shift to these areas, positions us well to see strong topline growth in 2017. This growth will flow through to the bottom-line and should result in significantly improved operating leverage in 2017.”
For earnings history and earnings-related data on TubeMogul (TUBE) click here.
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