Why Cardlytics Stock Soared 43% on Wednesday
Shares of Cardlytics (NASDAQ: CDLX) skyrocketed 42.9% on Wednesday after the purchase-intelligence technology company posted a surprise non-GAAP (adjusted) profit in the third quarter and raised its full-year outlook.
More specifically on the former, Cardlytics' quarterly revenue grew 63% year over year to $56.4 million, translating to adjusted net income of $800,000, or $0.03 per share. By comparison, Cardlytics' guidance provided in August called for lower revenue of $46 million to $50 million, and most analysts were modeling an adjusted loss of $0.15 per share.
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Source Fool.com
