Piper: 134% Growth in Q4; Raising Estimates, Reiterate Overweight & $17 Target

[Gator]

C O N C L U S I O N
NQ Mobile reported Q4 revenue of $30M, ahead of the consensus estimate of $29.2M,
and PF EPS of $0.23, $0.07 above consensus, mostly driven by below-the-line items.
The company also raised 2013 revenue guidance far above consensus, reflecting healthy
organic growth and the inclusion of Feiliu revenue. Management noted that its focus
will remain on business development and alluded to some retail deals which have yet to
be announced. The company expects to integrate its recently acquired companies rather
than seek additional large acquisitions. All signs point to NQ Mobile maintaining its
strong growth rates, and its signature win with the world's third largest carrier earlier
this week underscores its momentum and product superiority. Reiterate Overweight, PT
$17.

[admin]

Thanks Gator.