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

Magnite

09/05/2024 17:56

* Magnite Inc  MGNI.OQ  reported quarterly adjusted earnings
of 5
cents​​ per share for the quarter ended in March, higher than
the same quarter last year, when the company reported EPS of 4
cents.  The mean expectation of eight analysts for the quarter
was for breakeven results per share. Wall Street expected
results to range from -4 cents to 4 cents per share.
    * Revenue rose 12.5% to $130.55 million from a year ago;
analysts
expected $124.24 million. 
    * Magnite Inc's reported EPS for the quarter was a loss
of 13
cents​.
    * The company reported a quarterly loss of $17.76 million.
    * Magnite Inc shares had fallen by 17.2% this quarter and
lost 4.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 96.8%
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 8 "strong buy" or "buy," 2
"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
$14.75 
This summary was machine generated from LSEG data May 9 at 04:56
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
 Mar. 31 2024      0.00           0.05           Beat
 Dec. 31 2023      0.28           0.29           Beat
 Sep. 30 2023      0.08           0.12           Beat
 Jun. 30 2023      0.03           0.09           Beat