Quotient lowers Q4 revenue view to $106.5M-$107.5M from $115.0M-$120.0
Consensus is for Q4 revenue $117.67M. The company also lowered FY18 revenue view to $386.5M-$387.5M, from $395.0M-$400.0M. Consensus is for FY18 revenue $397.57M. The company added: "Promotion revenue in the Q4 was impacted by unexpected softness as a number of CPG customers cut their spend significantly in December. Revenue from media in the Q4. continued to grow significantly year over year but was also impacted by the CPG spending cuts. These preliminary results imply a revenue growth rate of approximately 20% for the FY18 over 2017, an increase over the 17% growth rate for the FY17 over 2016. As CPGs approach their end of quarter or fiscal year, advertising and promotion spending is typically regarded as flexible, and one of the easiest expenses to cut at the end of a financial period. We remain confident in our business and expect revenue growth to accelerate for the FY19."