Why PubMatic Stock Soared on Tuesday

Shares of adtech company PubMatic (NASDAQ: PUBM) skyrocketed on Tuesday. Investors were impressed with its second-quarter results. Shares were up about 22% at 11:20 a.m. ET.

The tech company bucked a trend of decelerating growth seen by many of its digital advertising peers. PubMatic also provided guidance for double-digit third-quarter revenue growth -- a growth rate well ahead of the decline forecast by Facebook parent Meta Platforms and the guidance for low-single-digit growth from streaming TV platform Roku.

PubMatic's second-quarter revenue increased 27% year over year to $63 million.  This was an acceleration from a first-quarter year-over-year growth rate of 25%.

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Source Fool.com