DoubleVerify stock spikes after strong earnings report
DoubleVerify Holdings Inc.
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shares jumped more than 14% in after-hours trading Wednesday, following an earnings report and forecast that topped estimates despite doubts about the online-advertising industry. The ad-tech company reported fourth-quarter earnings of $18.1 million, or 11 cents a share, down from 18 cents a share a year ago. Revenue grew to $133.6 million from $105.5 million in the holiday quarter of 2021. Analysts on average expected adjusted earnings of 19 cents a share on sales of $132.8 million; DoubleVerify did not provide an adjusted per-share earnings figure. Executives guided for first-quarter revenue of $117 million to $119 million, and full-year sales of $550 million to $564 million. Analysts on average were projecting first-quarter revenue of $117.6 million and annual sales of $557.3 million, according to FactSet. DoubleVerify shares have declined 6.8% in the past year, beating a 7.8% decline for the S&P 500 index.
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