By Liz Moyer
Investing.com — Pubmatic Inc (NASDAQ:) jumped 24% on Wednesday after beating fourth quarter expectations and announcing a bullish outlook.
The advertising tech company went public in December. It reported fourth quarter profit of $18.8 million, or 34 cents a share, an increase over net income of $4.1 million, or 6 cents a share in the same period of 2019.
Fourth quarter revenue rose 64% over the prior year, to $56 million while analysts had expected $47.4 million . Full-year revenue rose 31% to $148.7 million.
It said first quarter 2021 revenue is expected to be in the range of $38 million to $40 million, representing growth of 34% to 41% over last year’s quarter.
PubMatic said in a statement that growth was driven by advertising strength in e-commerce, technology, personal finance, and on streaming video. PubMatic provides services for publishers such as News Corp A (NASDAQ:). and Verizon Media Group as well as game-maker Electronic Arts Inc (NASDAQ:).
Several analysts raised their price targets after the earnings were announced.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Be the first to comment