PubMatic Sees Q3 2023 Revenue $58M-$61M Vs $65.93M Est
Portfolio Pulse from Benzinga Newsdesk
PubMatic has provided its financial outlook for Q3 2023, expecting revenues to be between $58M-$61M, lower than the estimated $65.93M. The company cites challenging macroeconomic conditions and cautious advertisers as reasons for the lower projection. Adjusted EBITDA is expected to be between $13M-$15M, representing a 23% margin at the midpoint. For the full year 2023, CapEx is expected to decrease by approximately 70% over 2022.
August 08, 2023 | 10:02 pm
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PubMatic's lower than expected revenue forecast for Q3 2023 could negatively impact its stock price in the short term.
Investors often react to lower than expected revenue forecasts by selling shares, which can lead to a decrease in the stock price. Given that PubMatic's forecast is significantly lower than the estimate, this could have a substantial negative impact on its stock price.
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