Shares of Digital Turbine (NASDAQ: APPS) are soaring 35.81% in intraday trading on Wednesday, following the release of its fiscal 2026 second-quarter earnings report that significantly surpassed analyst expectations. The mobile advertising technology company demonstrated robust growth and improved profitability, instilling confidence in investors.

Digital Turbine reported quarterly adjusted earnings per share of $0.15, tripling the analyst consensus estimate of $0.05 and marking a 200% increase from the same period last year. The company's revenue reached $140.4 million, beating the expected $127.615 million by 10.02% and representing an 18.25% year-over-year growth. These results underscore the company's strong market position and effective execution of its growth strategies.

Further bolstering investor enthusiasm, Digital Turbine raised its fiscal 2026 outlook, projecting revenue between $540 million and $550 million and non-GAAP adjusted EBITDA between $100 million and $105 million. The company also reported a substantial improvement in its non-GAAP adjusted EBITDA, which increased by 78% year-over-year to $27.2 million. In response to these strong results, Craig-Hallum raised its price target on Digital Turbine to $10 from $8, maintaining a Buy rating on the shares, reflecting growing confidence in the company's future prospects.