Youbet.com rises despite missing Q4 expectations
Youbet.com, Inc. (Nasdaq:UBET) shares rose during Monday’s trading session after the operator of horse race betting websites reported a fourth-quarter loss of $28.7 million, or $0.68 per share, after the closing bell. Analysts expected a loss of $0.01 per share. Youbet.com’s quarterly loss was $5.1 million, or $0.14 per share, during the fourth quarter of 2006. Quarterly revenue decreased to $28.1 million, from $32 million. Wall Street analysts anticipated sales of $32.6 million. During Monday’s trading, UBET shares are up 12.8%, or $0.09, at $0.81.
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