Why Cardlytics Stock Got Demolished Today

Shares of Cardlytics (NASDAQ: CDLX) have gotten demolished today, down by 35% as of noon EST, after the company reported fourth-quarter earnings. The purchase intelligence specialist, which operates customer loyalty programs for financial institutions, also announced a major executive shake-up.

Revenue in the fourth quarter jumped 45% to $69.3 million, which translated into adjusted net income of $5.2 million, or $0.18 per share. Consensus estimates had called for $64.6 million in sales and $0.04 per share in adjusted profits. Billings increased to $70.2 million, and adjusted EBITDA was $6.9 million.

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Source Fool.com