NasdaqGS:MGNIMedia
Magnite (MGNI) Stock Jumps As CTV Margins Strengthen
Magnite stock ripped higher today, jumping 17.7% to US$24.32, as investors rushed to reprice a business that has just put up one of its cleanest profit stories in years. The headline is simple: advertising dollars in connected TV are flowing through Magnite’s pipes with increasing efficiency, and that is now showing clearly in the margin line.
Q2 revenue came in at US$192.8m. The sharper signal was profitability, with net income of US$19.4m and adjusted earnings power underpinned by strong...