Magnite reports Q4 EPS 24c, consensus 32c

Reports Q4 revenue $175.4M, revenue ex-TAC of $156.6M, consensus $153.73M. "We delivered a strong fourth quarter with total and CTV revenue at the high end of our guidance ranges," said Michael Barrett, President and CEO of Magnite. "For the full year, we also exceeded revenue targets and continue to build on our leading independent market position by growing both the CTV and the DV+ business. We are excited to introduce Magnite Streaming, which is our new industry leading CTV & OTT platform, and continue to grow and expand our partnerships, especially on the CTV side of the business, to accelerate the programmatic growth in the industry that remains ahead. We continue to expect to grow this year and will remain efficient and focused on managing expenses, to deliver strong profitability and free cash flow in 2023 for shareholders."