LiveRamp (RAMP) shares fell over 10% Friday on the back of its latest quarterly results, which saw it top consensus expectations
The company reported third-quarter earnings of $0.47, $0.07 better than the analyst estimate of $0.40. Revenue for the quarter came in at $174 million, up 10% year-over-year and above the consensus estimate of $172.54 million.
The company's subscription revenue was $132 million, increasing 5% compared to the same quarter last year, while marketplace and other revenue was $42 million, up 29%.
"We outperformed again this quarter, with revenue and operating income ahead of our expectations,” said LiveRamp CEO Scott Howe. “Our forward sales momentum also continued in the quarter, including another strong new logo quarter, demonstrating healthy customer demand and good sales execution."
For Q4, LiveRamp expects to report revenue between $158 million and $162 million, with a non-GAAP operating income of between $13 million and $14 million
For fiscal 2024, LiveRamp sees revenue between $646 million and $650 million, with non-GAAP operating income between $102 million and $103 million.