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Ross Levinsohn
Millennial Media revenue surges, but shares fall on shaky outlook
Millennial Media revenue surges, but shares fall on shaky outlook

Millennial Media lost $3.8 million despite a surge to $96.7 million in revenue in the fourth quarter of 2013, with both results beating analysts' expectations, but shares fell in after-hours trading on shaky expectations going forward. The Baltimore mobile advertising company's revenue jumped by two-thirds compared with the fourth quarter of 2012, when it reported $58 million in sales and posted a profit of $2.6 million. It completed a mostly stock deal worth about $174 million to acquire Boston-based Jumptap in November that helped drive growth. Newly named CEO Michael Barrett said he expects revenue to fluctuate over the coming year but to grow at about a 20 percent clip. The...

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