Magnite: Q3 Earnings Insights
Portfolio Pulse from Benzinga Insights
Magnite (NASDAQ:MGNI) reported its Q3 earnings results, beating estimated earnings by 50.0% with an EPS of $0.12 versus an estimate of $0.08. Revenue was up $4.27 million from the same period last year. Last quarter, the company beat on EPS by $0.06, which was followed by a 35.09% drop in the share price the next day.
November 08, 2023 | 9:30 pm
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NEUTRAL IMPACT
Magnite's Q3 earnings beat estimates, but the last earnings beat was followed by a significant drop in share price.
Magnite's earnings beat is a positive sign, but the significant drop in share price following the last earnings beat suggests that investors may have concerns about the company's future prospects. This could lead to volatility in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100