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Why Magnite Stock Popped Today

TheMotleyFool

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Shares of Magnite (NASDAQ: MGNI) jumped today after the ad tech company posted better-than-expected results in its second-quarter earnings report. The stock finished the day up 10.2%.

Image source: Getty Images.

Magnite, which provides a supply-side platform for publishers, posted soaring revenue growth of 170% to $114.5 million, which easily beat estimates of $94.1 million. It benefited from the lockdown quarter a year ago and its acquisition of SpotX, a connected TV (CTV) specialist, back in February.

Source Fool.com

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