New York, May 30, 2024 - PRISM MarketView - The mobile growth platform and PRISM AdTech and Media Index company, Digital Turbine (APPS) announced its Q4 earnings that beat EPS estimates by five cents but missed quarterly revenue consensus by ~$5.5M. FY guidance was mostly in line. However, shares traded down which may be partly due to reporting adjusted EBITDA of $12.3M, down from $23.1 million in the fourth quarter of 2023.
On its earnings call the company cited the US Cellular merger with T-Mobile could potentially increase revenue, as US Cellular is a high-revenue partner and that Apple’s new pricing policy may impact app developers depending on their audience type and revenue models. EU regulators decision regarding Apple’s pricing power is also having a largely negative impact across the industry.
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