Magnite Soars 11.34% on Strong Q1 Earnings

On May 8, 2025, Magnite's stock surged by 11.34% in pre-market trading, reflecting strong investor sentiment following the company's first-quarter earnings report.

Magnite exceeded its top-line guidance for the first quarter of 2025, with significant growth in its Connected TV (CTV) and Data-Driven Video (DV+) segments. CTV revenue grew by 15%, while DV+ revenue increased by 9%. The company's adjusted EBITDA also significantly surpassed expectations, indicating strong operational efficiency.

Despite missing revenue estimates, Magnite's non-GAAP earnings per share (EPS) of $0.12 exceeded analyst expectations of $0.06. The company's adjusted EBITDA of $36.8 million also beat estimates, showcasing its ability to generate profits despite economic uncertainties.

Magnite's CEO, Michael G. Barrett, highlighted the company's strong performance in the first quarter and expressed optimism about the growth opportunities in the CTV and DV+ segments. He also noted the potential impact of the antitrust ruling against Google, which could create a more level playing field and increase Magnite's monetization opportunities.