Irvine-based digital ad tech company Viant Technology Inc. (Nasdaq: DSP) said fourth-quarter revenue jumped 18% to $64.4 million, while the company turned a $3.3 million profit, topping analysts’ expectations for a loss. The shares rose 8.5% in after-hours trading.
Viant projected revenue for the current quarter in the range of $49 million to $52 million, up from $41.7 million in the same period a year ago and above the $48.2 million average analyst estimate.
“We are uniquely well positioned to benefit from the changes in programmatic advertising and are very excited about our growth prospects in 2024 and beyond,” co-founder and CEO Tim Vanderhook said in today’s earnings release.
Shares in Viant rose to $9.96 apiece in late trading after closing at $9.18 and a market cap of $586 million.
For further details, see the March 18 print edition of the Business Journal.
