Millennial Media, a mobile ad network turned programmatic exchange, has announced its fourth quarter 2014 earnings. The company saw $86.4 million of revenue in the fourth quarter of 2014, up from $69.8 million in the third quarter but down from $96.7 million during the fourth quarter of 2013.
Millennial Media reported a net loss of $11.6 million on the quarter, above the projected $5.5 to $6.5 million loss.
Following its third quarter earnings report, Millennial projected fourth quarter revenue in the range of $70 to $75 million. Following the beat, shares of Millennial Media (“MM”) have risen nearly 7% in after-hours trading, up to $1.70 per share.
Millennial Media closed its acquisition of Nexage, a mobile ad exchange, on Dec. 4, 2014, so the full impact Nexage’s exchange technology will have on Millennial’s business remains to be seen. However, Michael Barrett, CEO of Millennial Media, highlighted Nexage multiple times in his prepared statement.
“We’ve already begun inventory integrations to our owned and operated programmatic exchange, The Millennial Media Exchange powered by Nexage,” Barrett stated, adding that the company expects “to accelerate [its] programmatic platform capabilities and revenue production during 2015.”