2020-11-09 16:12:42 MGNI Magnite
11/09/20 11/0916:12 11/09/2016:12 | Magnite reports Q3 EPS 6c, consensus (4c)Reports Q3 revenue $61.0M, consensus $53.52M. "We are very pleased to post strong third quarter results with growth across all formats including CTV, non-CTV video, mobile and display; and these trends are continuing into the fourth quarter. We believe a meaningful portion of our growth is coming from broad market share gains, which demonstrates the strength of our go to market strategy as a combined company, and are positive signs for our non-CTV video business. In programmatic ad-supported CTV, we continue to benefit from the acceleration of cord cutting, spend moving to programmatic from direct sales, inventory growth and overall consumer adoption rates. We believe the combination of these factors has significantly accelerated growth in the ad supported CTV market. It is a pretty exciting time for us, as we work with marketers to shift linear TV dollars to CTV," said Michael G. Barrett, President and CEO of Magnite. |
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