Reuters: Hot Stocks: UPDATE 1-Velti profit beats on mobile ad rev, shares rise

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UPDATE 1-Velti profit beats on mobile ad rev, shares rise Mar 12th 2012, 14:08 March 12 | Mon Mar 12, 2012 10:08am EDT March 12 (Reuters) - Mobile marketing company Velti Plc posted better-than-expected quarterly results helped by higher mobile advertising revenue, and forecast first-quarter revenue largely above estimates, sending its shares up more than 13 percent in morning trade on Monday. The company sees first-quarter revenue of $44 million to $48 million, largely above analyst estimates of $45 million, according to Thomson Reuters I/B/E/S. For the fourth quarter, net income rose to $25 million, or 40 cents per share, from $2 million, or 5 cents per share, a year ago. Excluding items, the company earned 59 cents per share. Revenue for the quarter rose 52 percent to $87.1 million, while mobile advertising revenue was up 67 percent. Analysts on average had expected earnings of 48 cents per share on revenue of $81.8 million. Velti's shares were trading at their highest level in more than six months at $11.35 on the Nasdaq.

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