PubMatic Inc. (NASDAQ: PUBM) has issued its second quarter 2022 report. The firm reported double-digit organic revenue growth, causing the stock to rise 23.76% to $21.98 on August 9th.
Revenue at PUBM increased 27% year on year to $63 million in the fiscal quarter ending June 30. GAAP earnings dropped to $7.8 million, or $0.14 per share, from $9.9 million and $0.18 per share the previous year. PubMatic benefits from the expansion of the digital advertising industry, which is fueled by the departure of advertisers from conventional media, particularly television.
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PubMatic’s income is rapidly increasing in various categories. Advertising income for Internet-connected TV (including streaming, including through set-top boxes) surged by 150% year on year in the second quarter. The firm has gained new premium clients and is presently monetizing 196 linked TV services.
In all, the firm handled 36.2 trillion ad impressions in the third quarter, a 79% increase over the previous year. The corporation has accomplished an essential goal: all of its data centers are now powered by renewable energy sources. PubMatic Inc. (PUBM) may thus provide its services to businesses that are transitioning away from the use of fossil fuels in their supply chains.
PubMatic Inc. (PUBM) also debuted a full Communicate platform, which enables media buyers to connect with their target demographic over the Internet. The uniqueness has already piqued the interest of significant PubMatic clients, with IPG Matterkind, Omnicom Media Group, and Havas Media Group already using it.
Overall, PubMatic Inc. (PUBM) has witnessed revenue growth for eight consecutive quarters, above its stated long-term objective of +20%. Furthermore, the firm reported positive EBITDA GAAP earnings for the twelfth straight quarter.
On the 9th of August, the company’s shares were trading 23.76% higher at $21.98. Prices ranged between $19.01 and $22.4514 over the last trading session. The stock is -25.8% below the target price of $27.65. The company’s current market capitalization is $605.45 million.
