QuinStreet soars after record Q1 earnings

Quinstreet

04/11/2024 23:24

** Shares of financial services marketplace QuinStreet
 QNST.O  jump 29% to $26.12 after the bell
    ** QNST posts Q1 adjusted profit of 22 cents/shr, sailing
past Wall Street expectations of 15 cents/shr - LSEG data
    ** Q1 revenue soared 125% to record $279 mln, driven by a
664% jump in auto insurance revenue
    ** Strong results were driven by the broad based ramp of
auto insurance carrier budgets, and by our expanded client,
media, and product footprints, CEO Doug Valenti says, adding
that the outlook for auto insurance going forward remains strong
    ** QNST now expects annual revenue to be between $975 mln
and $1.025 bln, higher than its prior expectation of $800 mln to
$850 mln
    ** As of last close, QNST shares up 57.6% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))