Why Quotient Technology Shares Soared Today
What: Shares of Quotient Technology have soared today, up by 27% as of 12:07 p.m. ET, after the company reported fourth-quarter earnings.
So what: Revenue in the fourth quarter came in at $69.4 million, up 16% from a year ago. Coupon transactions rose 25% to hit a record 469 million. Quotient posted adjusted earnings per share of $0.01. Analysts were expecting an adjusted net loss of $0.03 per share.
Now what: CEO Steven Boal said the company is gaining momentum with its Retailer iQ partners, driving transaction growth of 25% in the fourth quarter. Digital paperless transactions now comprise over half of all transactions. The company expanded its reach with Retailer iQ, and now includes grocery, drug, and dollar channels, among others. Guidance for 2016 calls for revenue in the range of $250 million to $260 million.
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