PubMatic's shares experienced a significant boost after hours, following the release of their fourth-quarter financial results. The company's board announced an expansion of the share buyback plan by $100 million, further exciting investors.
Stock Performance and Financial Results
After the closing bell on Monday, PubMatic shares surged by 30.6% to $21.65 each, marking a substantial gain and surpassing a 52-week high. Earlier in the day, the stock recorded $20.08 on Aug. 1, 2023. The positive momentum carried into post-market trading, indicating strong investor confidence.
During the regular session, PubMatic shares closed with a 1.28% increase, settling at $16.57. The impressive performance in both regular and after-hours trading reflects the market's positive reception of the company's financial standing.
Earnings Report and Forward Guidance
In the fourth quarter, PubMatic reported earnings per share of 34 cents on revenue of $84.6 million, showcasing significant growth compared to the year-ago period's EPS of 22 cents on revenue of $74.2 million. This substantial improvement underlines PubMatic's commitment to delivering value to its shareholders.
Looking ahead, PubMatic anticipates revenue in the range of $61 million to $63 million for the first quarter, laying out a clear trajectory for sustained growth and profitability in the coming months.
Expansion of Share Repurchase Program
The future looks promising for PubMatic as it continues to deliver strong performance and strategic initiatives that drive growth and sustainability in a dynamic market landscape.
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