By Stephen Nakrosis
Shares of PubMatic were trading higher after-hours following the release of third-quarter financial results that topped some analysts’ estimates.
At 6:35 p.m. EST, the company’s shares had risen 19% to trade at $14.41 per share. The stock finished Wednesday’s regular session with gains of less than 1%, closing at $12.10.
After the bell, the technology company reported third-quarter earnings per share of 3 cents on revenue of $63.7 million. Analysts were expecting a loss per share of 8 cents, according to FactSet.
In the year-ago period, PubMatic reported EPS of 6 cents on revenue of $64.5 million.
On an adjusted basis, the company reported third-quarter EPS of 14 cents. Analysts were expecting EPS of 0 cents, according to FactSet.
Rajeev Goel, the company’s co-founder and chief executive, said Supply Path Optimization rose to 45% of total activity on PubMatic’s platform in the third quarter, “showcasing the upside growth potential inherent in our business.”
Write to Stephen Nakrosis at [email protected]
Read the full article here