Mobvista (HKG:1860) expects to post a net profit of between $30 million and $38 million for the first half, up from $7.34 million a year earlier, according to a Wednesday Hong Kong bourse filing.

Shares of the mobile advertising service provider fell 16% in Thursday afternoon trade.

The increase was attributed to strong growth at its core programmatic advertising platform, Mintegral, and improved operating leverage.

It plans to release its interim results by the end of August.