Magnite, Inc. reports results for the quarter ended September 30 - Earnings Summary

• Magnite, Inc. reported quarterly adjusted earnings of 33 cents​​ per share for the quarter ended September 30, higher than the same quarter last year, when the company reported EPS of 20 cents. The mean expectation of twelve analysts for the quarter was for earnings of 30 cents per share. Wall Street expected results to range from 26 cents to 34 cents per share.

• Revenue rose 22.4% to $204.20 million from a year ago; analysts expected $190.16 million.

• Magnite, Inc.'s reported EPS for the quarter was 23 cents​.

• The company reported quarterly net income of $34.01 million.

• Magnite, Inc. shares had fallen by 11.6% this quarter and gained 37.6% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 14.6% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy," 1 "hold" and no "sell" or "strong sell." The average consensus recommendation for the advertising & marketing peer group is also "buy"

• Wall Street's median 12-month price target for Magnite, Inc. is $28.50, about 21.6% above its last closing price of $22.34

This summary was machine generated from LSEG data November 4 at 10:54 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)