Digital ad software company Viant Technology today reported a 25% increase in first-quarter earnings to $89 million while the net loss narrowed. The company’s shares shot up 13% in after-hours trading after closing down 12% at $10.59 each.
“Viant delivered record first quarter results, exceeding the high end of our guidance range across both the top and bottom lines for the quarter,” co-founder and CEO Tim Vanderhook said in the earnings statement (Nasdaq: DSP).
Vanderhook said the company’s recent acquisition of audience measurement firm TVision “further transforms Viant from a media execution platform into a highly differentiated advertising intelligence company, equipped with proprietary data, measurement, and activation capabilities that enables advertisers to drive optimal media decisions.”
The company forecasts revenue in the range of $98.5 million to $101.5 million for the current quarter.
