PubMatic is getting a steady flow of major companies as its clients. However, PUBM suffers from macroeconomic and competitive challenges.
PubMatic's revenue didn't live up to expectations this quarter and its outlook for 2024 is lower than it was. The business is still strong and growing, which may be an opportunity for some investors.
U.S. stock futures were higher this morning, with the Nasdaq futures gaining around 100 points on Friday.
PubMatic, Inc. (NASDAQ:PUBM ) Q2 2024 Results Earnings Conference Call August 8, 2024 4:30 PM ET Company Participants Stacie Bosinoff Clements - Investor Relations, The Blueshirt Group Rajeev Goel - Co-Founder and Chief Executive Officer Steve Pantelick - Chief Financial Officer Conference Call Participants Ian Peterson - Evercore ISI Shweta Khajuria - Wolfe Research, LLC Matthew Swanson - RBC Capital Markets James Heaney - Jefferies Steven Hromin - Oppenheimer & Co. Operator Hello, everyone. And welcome to PubMatic Second Quarter 2024 Earnings Call.
PubMatic, Inc. (PUBM) came out with quarterly earnings of $0.04 per share, beating the Zacks Consensus Estimate of a loss of $0.02 per share. This compares to loss of $0.11 per share a year ago.
PubMatic (PUBM) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
Pubmatic has competitive advantages that could make it a winner in a consolidating industry. A technology-first approach, profitability, operating leverage, and scale position it well for future success. The current market valuation suggests these advantages and the company's earnings potential are not fully appreciated.
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