Revenue Update on MeetMe Inc(NASDAQ:MEET)

MeetMe Inc(NASDAQ:MEET) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 1, 2016. Company reported revenue of $16.39M. Analysts estimated a revenue of $15.27M. Earnings per share were $0.09. Analysts had estimated an EPS of $0.05.

MeetMe Inc (MEET) shares turned negative on Mondays trading session with the shares closing down -0.03 points or -0.41% at a volume of 18,18,043. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $7.51. The peak price level was also seen at $7.51 while the days lowest was $7.22. Finally the shares closed at $7.37. The 52-week high of the shares is $7.55 while the 52-week low is $1.47. According to the latest information available, the market cap of the company is $387 M.

Several Insider Transactions has been reported to the SEC. On Jun 22, 2016, John Abbott (director) sold 85,000 shares at $4.62 per share price.Also, On Jun 8, 2016, Geoffrey Cook (Chief Executive Officer) sold 100,000 shares at $4.20 per share price.On May 18, 2016, Frederic Beckley (General Counsel) sold 9,360 shares at $3.41 per share price, according to the Form-4 filing with the securities and exchange commission.

MeetMe Inc. is a location-based social network for meeting new people both on the Web and on mobile platforms including on iPhone Android iPad and other tablets that facilitate interactions among users. The Company is a social media technology company that owns and operates The Company monetizes through advertising in-app purchases and paid subscriptions. The Company provides users with access to a menu of resources that promote social interaction information sharing and other topics of interest to users. The Company had approximately 4.98 million monthly active users (MAUs). The Company offers online marketing capabilities which enable marketers to display their advertisements in different formats and in different locations. The Company works with its advertisers to maximize the effectiveness of their campaigns by optimizing advertisement formats and placement.

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