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What: Shares of NQ Mobile have jumped today, up 16% as of 12:15 p.m. ET, after the company reported fourth-quarter earnings.
So what: Revenue in the fourth quarter hit a new quarterly record of $127.5 million, up 42% over last year. That growth was driven in part by quarterly record revenue for mobile value added services, which comprised $51.4 million of that total, more than doubling year over year. Adjusted net income came in at $43 million, or $0.21 per basic share.
Now what: The company had 198.2 million monthly active users at the end of 2015. NQ continues to make progress divesting various assets as it focuses its efforts and development resources on its core consumer business. For example, the company has been attempting to divest FL Mobile, but has hit some recent hurdles. Mobile gaming and social video revenues are growing nicely, which is the main focus as NQ continues to shift away from enterprise mobility and security.
The article Why NQ Mobile Shares Jumped Today originally appeared on Fool.com.
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