Magnite Q2 Adj EPS $0.09 Beats $0.03 Estimate, Sales $152.50M Beat $134.28M Estimate
Portfolio Pulse from Benzinga Newsdesk
Magnite (NASDAQ:MGNI) reported Q2 adjusted earnings of $0.09 per share, beating the analyst consensus estimate of $0.03 by 200%. However, this is a 35.71% decrease from the same period last year. The company also reported quarterly sales of $152.50 million, beating the analyst consensus estimate of $134.28 million by 13.57%, and marking a 10.68% increase from the same period last year.
August 09, 2023 | 8:06 pm
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NEUTRAL IMPACT
Magnite's Q2 earnings and sales beat analyst estimates, but earnings decreased compared to the same period last year. This mixed result could lead to uncertain short-term price movements.
Magnite's earnings beat estimates, which is generally positive for the stock price. However, the decrease in earnings compared to the same period last year introduces uncertainty, which could lead to volatility in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100