Why LiveRamp Holdings Stock Soared Today
Shares of LiveRamp Holdings (NYSE: RAMP) closed up nearly 20% on Thursday after the data collaboration platform company announced strong fiscal second-quarter results. For its fiscal second-quarter 2024, which ended Sept. 30, 2023, LiveRamp's quarterly revenue grew 9% year over year to $160 million, translating to adjusted (non-GAAP) earnings of $0.43 per share. Analysts, on average, were only expecting earnings of $0.24 per share on revenue of $152.4 million.
Within LiveRamp's top line, subscription revenue grew 5% to account for 79% of total sales. Meanwhile, revenue from its Marketplace & Other segment rose 25% to $34 million. LiveRamp also generated healthy operating cash flow of $36 million during the quarter -- its fifth straight positive quarter for the metric -- up from $21 million in the same year-ago period.
LiveRamp CEO Scott Howe noted the company enjoyed its best new logo quarter in two years, including the addition of multiple new Fortune 500 customers.
Source Fool.com
