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

Magnite

07/08/2024 22:44

* Magnite Inc  MGNI.OQ  reported quarterly adjusted earnings
of 14
cents​​ per share for the quarter ended in June, higher than the
same quarter last year, when the company reported EPS of 9
cents.  The mean expectation of nine analysts for the quarter
was for earnings of 15 cents per share. Wall Street expected
results to range from 13 cents to 20 cents per share.
    * Revenue rose 9% to $146.76 million from a year ago;
analysts
expected $143.99 million. 
    * Magnite Inc's reported EPS for the quarter was a loss of 1
cent​.
    * The company reported a quarterly loss of $1.08 million.
    * Magnite Inc shares had fallen by 2.0% this quarter and
gained 39.5% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 1.8%
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 12 "strong buy" or "buy," no
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the advertising &
marketing peer group is also "buy"

Wall Street's median 12-month price target for Magnite Inc is
$17.50 
This summary was machine generated from LSEG data August 7 at
09:44 p.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
 Jun. 30 2024      0.15           0.14           Missed
 Mar. 31 2024      0.00           0.05           Beat
 Dec. 31 2023      0.28           0.29           Beat
 Sep. 30 2023      0.08           0.12           Beat