Why ironSource Stock Blasted 10% Higher Today
ironSource (NYSE: IS), operator of a mobile app business platform, was an underdog winner on the stock exchange Wednesday. The company's shares rose by a sturdy 10%, well outpacing the S&P 500 index's 2.1% gain, on the back of the encouraging quarterly results it published in the morning.
For its second quarter, ironSource earned $183 million in revenue, a solid 35% higher than the tally of the same quarter last year. Non-GAAP (adjusted) net income saw an even more dramatic rise, climbing by almost 54% to just over $61 million ($0.06 per share).
That was a very convincing bottom-line beat, as analysts tracking ironSource stock were collectively expecting exactly half that figure, at $0.03 per share. Their average revenue forecast was more or less in line with the actual figure, at just under $183.3 million.
Source Fool.com
