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Digital ad company Viant Technology in Irvine said first-quarter revenue rose to $70.6 million, well above analysts’ estimates, sending the shares up 7.2% in after-hours trading.
“With unique exposure to secular tailwinds and differentiated technology, we believe Viant is well positioned to outperform the broader advertising industry,” CEO Tim Vanderhook said in releasing results for the quarter ended March 31.
The net loss for the period widened slightly to $3.3 million from $3,2 million.
The shares jumped to $15.99 apiece in post-market trades after closing at $14.91 each.
The intraday market cap was $938 million.
For further information, see the May 12 print edition.