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What: Shares of comScore scored major gains today, up by as much as 24% after the company reported first-quarter earnings.
So what: Revenue in the first quarter came in at $68.8 million, with a net loss per share of $0.06. Both figures were ahead of expectations, as consensus estimates were calling for just $66.5 million in sales and a net loss of $0.07. CEO Dr. Magid Abraham said new customer activity was robust, adding 62 customers during the quarter.
Now what: Outlook for the second quarter calls for sales to be in the range of $65.5 million to $68 million, and full-year revenue should be $275.5 million to $283.5 million. The midpoints of both forecasts are above consensus. Goldman Sachs upgraded the stock from "sell" to "neutral," believing that the business has stabilized. Cantor Fitzgerald boosted its rating on shares from "hold" to "buy" and added that comScore's new offerings appear to be gaining traction.
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The article Why comScore Shares Scored Gains originally appeared on Fool.com.Fool contributor Evan Niu, CFA, has no position in any stocks mentioned. The Motley Fool recommends Goldman Sachs. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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