MobileIron Drops 6% After Beating On Revenue And Profit In Q2

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LinkedIn Beats Analyst Estimates With $712M In Q2 Revenue

After reporting an earnings beat earlier today, shares of mobile device management firm MobileIron fell roughly 6 percent during regular trading.

The firm reported $34.8 million in revenue, resulting in an adjusted loss of $0.25 per share. Investors had expected $33.68 million in revenue, and adjusted profit of negative $0.27 per share. The firm beat on both revenue and profit.

As noted by other sources, the firm guided in-line with expectations, including revenue of $37 million to $38 million for the current quarter.

The company’s revenue only grew 10 percent on a year-over-year basis. On a more positive note, MobileIron’s recurring billings crested the $25 million mark, landing at $25.1 million. The firm noted in its release that it now has a “$100 million annualized run-rate” in its billings for the first time.

MobileIron’s share decline following better-than-expected performance mirrors the dips of other technology firms that often beat what the street had hoped for, but saw its value slip. As I noted earlier this week, “it seems that investor sentiment is tilted toward expectations of earnings beats higher than what has been reported.”

An earnings cycle that started with some strength, in terms of public market performance, has since fallen short. That point only goes so far, however. LinkedIn recently reported its own performance, and saw its shares skyrocket more than 10 percent.

For MobileIron, tepid growth has added onto its share price declines in recent quarters. The company’s 52-week high of $12.96 per share is dramatically higher than its current trading price of $5.06.

The company ended its quarter with a cash and equivalent based of $104.3 million, according to its release.

Featured Image: Antonio Morales García/Flickr UNDER A CC BY-SA 2.0 LICENSE