Magnite reports Q4 EPS 29c, consensus 27c

Reports Q4 revenue $186.9M, consensus $160.32M. “We delivered a strong fourth quarter with CTV and DV+ revenue both exceeding the high end of our guidance ranges. We are even more encouraged to see improving top line trends to start 2024, particularly in CTV” said Michael Barrett, CEO of Magnite. “For the full-year, we delivered solid results despite a muted ad spend environment, combined our two CTV platforms and launched ClearLine, our direct buying solution that allows buyers to transact in CTV inventory with a greatly streamlined supply path. We are expanding our relationships with leading streaming partners as they continue to invest in programmatic, which we believe will drive strong top line growth and profitability for us.”