Programmatic video ad company TubeMogul reported earnings for the first time on Tuesday since going public just over one month ago — and the company was actually profitable.
The company’s revenue more than doubled, up 127% from $US12.6 million to $US28.7 million, beating expectations for the quarter of $US24.7 million. TubeMogul’s total spending jumped 143%, up to $US61.1 million.
After reporting a $US2.1 million net income this quarter, up from a loss of $US2.6 million last year, TubeMogul’s stock surged about 40% (it’s currently up about 35%).
“TubeMogul delivered strong financial results in the second quarter as clients continue to adopt our self-serve software to execute their global video advertising campaigns,” CEO Brett Wilson said in a press release.
After hours, TubeMogul stock was trading at $US12.10, compared to the company’s initial offering of $US7.
Here’s a closer look at TubeMogul’s stock:
TubeMogul is a video advertising company that purchases video ad space programmatically, or in real-time. Sometimes classified as a demand side platform, TubeMogul allows brands and advertisers to manage video ad spending on a single platform. The company was founded in 2006 and went public on July 18 this year.
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