Magnite Q2 revenue rises 11%, beats estimates, lifts outlook
MGNI•Drivers of the quarter
The company said a 36% year-over-year increase in CTV contribution ex-TAC drove the second-quarter outperformance.
Magnite also cited a return to growth in its DV+ segment, with contribution ex-TAC up 2% year over year.
Quarterly results beat estimates
Magnite said second-quarter revenue rose 11% year over year, beating analyst expectations.
Adjusted EPS also beat consensus, while adjusted EBITDA rose 30% year over year and exceeded estimates.
Key reported figures and analyst context
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Beat | $192.80 mln | $179.21 mln (13 Analysts) |
| Q2 Adjusted EPS | Beat | $0.26 | $0.25 (8 Analysts) |
| Q2 Net Income | $19.40 mln | ||
| Q2 Adjusted EBITDA | Beat | $70.60 mln | $62.75 mln (14 Analysts) |
| Q2 Adjusted EBITDA Margin | 37.00% | ||
| Q2 Gross Profit | $130.80 mln |
The current average analyst rating on the shares is "buy", with 14 "strong buy" or "buy" ratings, 2 ratings and no or ratings.
