Magnite Q2 2024 Adj. EPS $0.14 Misses $0.15 Estimate, Sales $162.880M Beat $143.993M Estimate
Portfolio Pulse from Benzinga Newsdesk
Magnite (NASDAQ:MGNI) reported Q2 2024 earnings per share of $0.14, missing the analyst estimate of $0.15. However, the company beat sales estimates with $162.880 million, a 6.78% increase from the same period last year.
August 07, 2024 | 8:39 pm
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Magnite's Q2 2024 earnings per share of $0.14 missed the analyst estimate of $0.15, but the company reported sales of $162.880 million, beating the estimate of $143.993 million. This mixed result may lead to short-term volatility in the stock price.
The mixed earnings report, with EPS missing estimates but sales beating expectations, suggests potential short-term volatility in MGNI's stock price. Investors may react negatively to the EPS miss but positively to the strong sales performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100