Magnite Q3 Adj EPS $0.12 Beats $0.08 Estimate, Sales $150.09M Beat $130.24M Estimate
Portfolio Pulse from bharat@benzinga.com
Magnite (NASDAQ:MGNI) reported Q3 earnings of $0.12 per share, beating the analyst consensus estimate of $0.08 by 50%. However, this is a 33.33% decrease from the same period last year. The company also reported quarterly sales of $150.09 million, beating the analyst consensus estimate of $130.24 million by 15.24%, a 2.93% increase from the same period last year.
November 08, 2023 | 9:30 pm
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NEUTRAL IMPACT
Magnite's Q3 earnings and sales beat estimates, but earnings are down 33.33% from the same period last year.
While Magnite beat earnings and sales estimates, the decrease in earnings from the same period last year could potentially offset the positive impact of beating estimates. This could result in a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100