Magnite Inc reports results for the quarter ended in December - Earnings Summary

Magnite

29/02/2024 03:12

* Magnite Inc  MGNI.OQ  reported quarterly adjusted earnings
of 29
cents​​ per share for the quarter ended in December, higher than
the same quarter last year, when the company reported EPS of 24
cents.  The mean expectation of eight analysts for the quarter
was for earnings of 28 cents per share. Wall Street expected
results to range from 24 cents to 32 cents per share.
    * Revenue fell 5.8% to $165.28 million from a year ago;
analysts
expected $160.34 million. 
    * Magnite Inc's reported EPS for the quarter was 16 cents​.
    * The company reported quarterly net income of $30.91
million.
    * Magnite Inc shares had risen by 23.3% this quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 2.4%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 8 "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 
    * Wall Street's median 12-month price target for Magnite Inc
is
$13.00 

This summary was machine generated from LSEG data February 29 at
03:11 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.28           0.29           Beat
 Sep. 30 2023      0.08           0.12           Beat
 Jun. 30 2023      0.03           0.09           Beat
 Mar. 31 2023      -0.04          0.04           Beat