PubMatic Inc. (NASDAQ: PUBM) has issued its second quarter 2022 report. The firm reported double-digit organic revenue growth, causing the stock to rise 23.76% to $21.98 on August 9.
Revenue at PUBM increased 27% year on year to $63 million in the fiscal quarter ending June 30. GAAP earnings dropped to $7.8 million, or $0.14 per share, from $9.9 million and $0.18 per share the previous year. PubMatic benefits from the expansion of the digital advertising industry, which is fueled by the departure of advertisers from conventional media, particularly television.
PubMatic’s income is increasing rapidly in several categories. For instance, advertising income on Internet-connected TV (including streaming, including through set-top boxes) surged by 150% year on year in the second quarter. The firm has gained additional premium clients and is now monetizing 196 linked TV services.
In all, the business handled 36.2 trillion ad impressions in the quarter, a 79% increase over the previous year. In addition, the corporation accomplished a key goal: all of its data centers are now fueled by sustainable energy sources. As a result, PubMatic Inc. (PUBM) may provide its services to businesses that are transitioning away from the use of fossil fuels in their supply chains.
PUBM also debuted a full Communicate platform, which enables media buyers to connect with their target demographic over the Internet. The uniqueness has already piqued the interest of significant PubMatic clients, with IPG Matterkind, Omnicom Media Group, and Havas Media Group already using it.
Overall, PubMatic Inc. (PUBM) has witnessed revenue growth for eight consecutive quarters, above its stated long-term objective of +20%. Furthermore, the firm reported positive EBITDA GAAP earnings for the twelfth straight quarter.
Over the last year, the company’s share price has dropped by -33.73%. The stock price increased by 26.01% in the past five trades and by 41.29% in the last 30 trades. However, the share price fell by -18.29% in the last six months and increased by 15.06% in the preceding three months.