PubMatic shares surge 10.33% premarket after Q3 revenue and EBITDA beat, driven by 50%+ CTV growth and AI advancements.

PubMatic surged 10.33% in premarket trading following the release of strong third-quarter financial results, including revenue of $68.0 million (above guidance) and adjusted EBITDA of $11.2 million. The company highlighted over 50% year-over-year growth in connected TV (CTV) revenue excluding political advertising, AI-driven platform efficiencies, and a 25% increase in ad spend from mid-market DSP partners. Analysts noted the outperformance against estimates, while Wolfe Research upgraded its price target to $12, citing CTV momentum and AI-driven competitive advantages. These results underscored PubMatic’s strategic focus on CTV, AI innovation, and diversified revenue streams, aligning with the stock’s significant premarket gain.