Magnite Reports Q3 Earnings Beat on Revenue and Non-GAAP EPS
Magnite (MGNI) reported third-quarter financial results that exceeded market expectations for both top and bottom lines. The company posted a Non-GAAP earnings per share (EPS) of $0.33, surpassing estimates by $0.05, while revenue reached $204.2 million, representing a 13.8% increase year-over-year and beating consensus by $13.58 million. A key driver in the results was the Contribution ex-TAC, which rose 20% year-over-year to $200.6 million. This figure outperformed the upper limit of the company's previously issued guidance range of $188 million to $192 million, signaling strong operational momentum and efficient scaling within its advertising technology business.
Tickers: $MGNI
Topics: earnings beat non-GAAP EPS revenue growth