Digital Turbine Pops on Google Deal to Drive Discovery of Apps

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Digital Turbine Pops on Google Deal to Drive Discovery of Apps
Credit: © Reuters.

By Dhirendra Tripathi – Digital Turbine stock (NASDAQ: APPS ) surged 11% in Tuesday’s premarket trading after the company clinched a multi-year deal with Google (NASDAQ: GOOGL ) to drive its product and growth strategy for Android.

The deal aims to drive discovery of apps in nearly a billion devices, the company said. Digital Turbine is an independent mobile growth platform and counts advertisers, publishers and carriers as its clients.

The company said it will work with SADA, using Google's enterprise and cloud solutions, to help its clients make money from their products. SADA is Google’s Cloud partner.

The company expects the deal to help it expand across the Android platform, including mobile, TV and other connected devices.

In the second quarter ended September 30, the company reported revenue of $310 million, up 63% year-on-year. Adjusted net profit per share nearly tripled to 44 cents.

Revenue in the current quarter is seen around $343 million at the center of its guidance range. Adjusted profit per share is seen between 41 cents and 44 cents.

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