Shares of PubMatic (NASDAQ: PUBM) lost 29.8% of their market capitalization through 10:05 a.m. ET today despite the company having reported a modest earnings beat last night.

Heading into Q2 2023, analysts had forecast the cloud-based ad sales platform would lose $0.06 per share on $59.9 million in sales. PubMatic actually reported a $0.02-per-share profit, however, and sales of $63.3 million.  

Investors didn't care.

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Source Fool.com