RTTNews | Aug 6, 2020 10:22AM EDT

10:21 Thursday, August 6, 2020 (RTTNews.com) - Shares of media and mobile communication products provider Digital Turbine, Inc. (APPS) are surging more than 20% Thursday morning on upbeat first-quarter results. The company also provided second-quarter oulook better than the Street view.

The stock touched a new high of $22.52 this morning.

Earnings, on an adjusted basis were $0.13 per share up from $0.05 per share last year, beating the consensus estimate of analysts polled by Thomson Reuters at $0.09 per share.

Revenue for the quarter grew 93% year-over-year to $59 million.

The company expects second-quarter revenue to be in the range of $59 million to $61 million and adjusted EPS to be between $0.11 and $0.12.

Analysts expect earnings of $0.09 per share on revenue of $51.44 million for the quarter.

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