MeetMe Inc (MEET) reported quarterly earnings results on Monday, Aug-1-2016. The company said it had a profit of $0.09 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.06. The company posted revenue of $16.39 million in the period, compared to analysts expectations of $15.27 million. The company’s revenue was up 47.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 EPS.
MeetMe Inc opened for trading at $6.4 and hit $6.53 on the upside on Friday, eventually ending the session at $6.43, with a gain of 0.47% or 0.03 points. The heightened volatility saw the trading volume jump to 19,53,105 shares. Company has a market cap of $307 M.
In a different news, on Jun 22, 2016, John Abbott (director) sold 85,000 shares at $4.62 per share price. According to the SEC, on Jun 8, 2016, Geoffrey Cook (Chief Executive Officer) sold 100,000 shares at $4.20 per share price. On May 18, 2016, Frederic Beckley (General Counsel) sold 9,360 shares at $3.41 per share price, according to the Form-4 filing with the securities and exchange commission.
MeetMe Inc. is a location-based social network for meeting new people both on the Web and on mobile platforms including on iPhone Android iPad and other tablets that facilitate interactions among users. The Company is a social media technology company that owns and operates MeetMe.com. The Company monetizes through advertising in-app purchases and paid subscriptions. The Company provides users with access to a menu of resources that promote social interaction information sharing and other topics of interest to users. The Company had approximately 4.98 million monthly active users (MAUs). The Company offers online marketing capabilities which enable marketers to display their advertisements in different formats and in different locations. The Company works with its advertisers to maximize the effectiveness of their campaigns by optimizing advertisement formats and placement.