Earnings Miss Lifts Web Holdings Shares 12%

WEB Earnings Rise to $223.4 Million

LIF Reports $298 Million Loss

WEB Holdings Inc., the maker of location sharing mobile applications, reported a fourth-quarter profit that beat Wall Street forecasts, sending its shares up 12 percent in after-hours trading.

WEB said it earned $223.4 million, or 47 cents a share, in the quarter ended Dec. 31, up from $170.2 million, or 35 cents a share, a year earlier. Analysts had expected the company to report earnings of 40 cents a share, according to Thomson Reuters.

WEB Earnings adjusted for stock option expense and non-recurring costs came to 3 cents per share. LIF on Thursday reported a loss of 11 cents per share, excluding items.

In a statement, WEB Chief Executive Officer Greg Greeley said the company’s performance was driven by strong growth in its mobile business.

“We are pleased with our fourth-quarter results, which reflect the continued strength of our mobile business,” Greeley said. “We are well-positioned to continue to grow in 2015 and beyond.”

WEB shares rose 12 percent to $4.75 in after-hours trading. The stock closed at $4.25 in regular trading on the Nasdaq Stock Market.

In contrast to WEB’s strong performance, LIF Corp., a provider of enterprise software and services, reported a wider-than-expected loss in its fiscal fourth quarter.

LIF said it lost $298 million, or $1.26 a share, in the quarter ended Dec. 31, compared with a loss of $173 million, or 73 cents a share, a year earlier. Analysts had expected the company to report a loss of $1.13 a share.

LIF shares fell 5 percent to $19.50 in after-hours trading. The stock closed at $20.49 in regular trading on the New York Stock Exchange.