Why PubMatic Stock Exploded Higher on Wednesday

Shares of PubMatic (NASDAQ: PUBM) charged sharply higher Wednesday, surging as much as 33.2%. As of 11:55 a.m. EST, the stock was up 28.7%.

The catalyst that drove the digital advertiser higher was third-quarter financial results that came in above even the most bullish estimates.

PubMatic delivered revenue of $58.1 million, up 54% year over year, allaying investor fears that its growth story might take a hit. Furthermore, the company delivered earnings per share (EPS) of $0.24, which soared 140%. This marked the fourth consecutive quarter of growth over 50% and net margin over 10%.

Source Fool.com