{"id":7653,"date":"2023-05-12T04:04:32","date_gmt":"2023-05-12T08:04:32","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/magnite-shares-jump-premarket-after-strong-1q-results\/"},"modified":"2023-05-12T04:04:32","modified_gmt":"2023-05-12T08:04:32","slug":"magnite-shares-jump-premarket-after-strong-1q-results","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=7653","title":{"rendered":"Magnite Shares Jump Premarket After Strong 1Q Results"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"MW-BT-CO-20230511-711203\" role=\"document\">\n<p>By Dean Seal<\/p>\n<p>Magnite shares are trading higher Thursday after the company reported first-quarter revenue and adjusted earnings that topped analyst estimates.<\/p>\n<p>The stock rose 13.5% to $10.69 in premarket trading. At the close of trading on Wednesday, shares were down 11% since the start of the year.<\/p>\n<div class=\"paywall\">\n<p>The New York-based sell-side advertising platform reported after the bell on Wednesday a loss of $98.7 million, or 73 cents a share, compared with a loss of $44.6 million, or 34 cents a share, in the same quarter a year ago.<\/p>\n<p>Revenue climbed 10% to $130.2 million. Excluding traffic acquisition costs, revenue was up 8% at $116 million, topping analyst forecasts for $110.9 million, according to FactSet.<\/p>\n<p>Traffic acquisition costs are a component of cost of revenue, representing what the company pays for sales of advertising inventory though its platform.<\/p>\n<p>Stripping out one-time items, adjusted earnings were 4 cents a share. Analysts polled by FactSet had been expecting an adjusted loss of 6 cents a share.<\/p>\n<pre><\/pre>\n<p>Write to Dean Seal at dean.seal@wsj.com<\/p>\n<pre><\/pre>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/magnite-shares-jump-premarket-after-strong-1q-results-d5f76610?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Dean Seal Magnite shares are trading higher Thursday after the company reported first-quarter revenue and adjusted earnings that topped analyst estimates. The stock rose 13.5% to $10.69 in premarket trading. At the close of trading on Wednesday, shares were down 11% since the start of the year. The New York-based sell-side advertising platform reported [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-7653","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Magnite Shares Jump Premarket After Strong 1Q Results | iFintechWorld<\/title>\n<meta name=\"description\" content=\"By Dean Seal Magnite shares are trading higher Thursday after the company reported first-quarter revenue and adjusted earnings that topped analyst\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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