Breaking Finance News

Here’s Why The Active Network is up 25 Percent Friday (ACTV)

Shares of The Active Network, Inc. (NYSE: ACTV) are up more than 25 percent Friday after reported revenue of $132.4 million versus consensus of $139.89 million. Non-GAAP earnings were $0.08 per share versus estimates of $0.06 per share.

What excited investors the most was the report from the company that it has received solicitations from outside parties who either want to invest in the company or acquire it. The Active Network’s board formed a committee to evaluate strategic alternatives.

“The Strategic Transactions Committee and the entire Board of Directors intend to evaluate all options carefully in order to maximize shareholder value, including the continued execution of its stand-alone plan,” said Jon Belmonte, Interim CEO of ACTIVE Network. “The management team remains focused on execution of its operating plan.”

Read the full earnings announcement here.

Read a transcript of the conference call here.

[stock-tools exchange="NYSE" symbol="ACTV" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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