TubeMogul Shares Plummet On Weak Sales Outlook

TubeMogul Inc. shares dropped in the extended session Thursday after the video advetising software company issued a weaker-than-expected forecast for the year. Shares of TubeMogul dropped 28% to $13 on moderate volume. Even though the company topped revenue for the fourth quarter and reported a narrower-than-expected loss, the company's sales outlook fell below expectations. TubeMogul sees revenue of $28 million to $30 million for the first quarter, and $142 million to $152 million for the year. Analysts surveyed by FactSet estimate $31.5 million for the quarter, and $154.3 million for the year.