"Viant's revenue grew by 7% year over year to just under $85.6 million. Stripping seasonal factors (such as political advertising) out of the mix, that growth is 19%. The opposite dynamic occurred with net income according to generally accepted accounting principles ( GAAP); this fell by 34% to $996,000, or $0.06 per share. However, that per-share figure was high enough to top the consensus analyst projection of $0.05."
"The company wasn't shy in highlighting its wins during the quarter, arguably the most prominent of which was its designation as advertising platform for storied brewery Molson Coors. In terms of financial victories, it managed to generate record advertising spend in both the connected TV (CTV) and streaming audio segments. Growth on tap Peering into the near future, Viant believes prosperous times are ahead. It cited growth areas such as CTV and partnerships enabled by its ViantAI platform as likely sources for revenue growth."
Viant Technology reported Q3 revenue of just under $85.6 million, a 7% year-over-year increase and 19% growth after stripping seasonal factors such as political advertising. GAAP net income fell 34% to $996,000, or $0.06 per share, which nonetheless topped the consensus analyst projection of $0.05. Analysts had projected roughly $52 million in revenue. The company secured Molson Coors as an advertising platform partner and generated record advertising spend in connected TV (CTV) and streaming audio. Viant cited CTV and partnerships enabled by its ViantAI platform as primary growth drivers and saw its stock rise about 18% in midsession trading.
Read at The Motley Fool
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