Digital Turbine Inc. ( APPS ) shares saw a sharp rise Wednesday after the company reported third-quarter earnings that came in well ahead of analyst expectations and raised its full-year revenue forecast.

What To Know: The company reported earnings of 13 cents per share, defying estimates of a one-cent loss. Revenue for the quarter reached $134.64 million, exceeding the consensus estimate of $123.68 million.

CEO Bill Stone attributed the results to improved execution and cost-cutting measures that helped strengthen operational efficiency and free cash flow. He pointed to sustained demand from advertisers and publishers for Digital Turbine's ( APPS ) On-Device product offerings, as well as increased spending from advertising agencies and major brands on the company's App Growth Platform.

“Strong advertiser and publisher demand for our increasingly wide array of On-Device product offerings and continuing growth in spending from leading advertising agencies and brand advertisers on our App Growth Platform were important revenue drivers,” said Stone.

Following the earnings release, Digital Turbine ( APPS ) revised its fiscal 2025 revenue outlook upward. The company now expects revenue between $485 million and $490 million, an increase from its previous range of $475 million to $485 million. The updated guidance also comes in ahead of analyst expectations, which stood at $477.04 million.

APPS Price Action: Digital Turbine ( APPS ) shares closed Thursday up 96.46% at $4.99, according to Benzinga Pro.

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