The Latest Breaking News from Magnite

Netflix's choice of Microsoft as its advertising technology partner could delay the offering of a lower-cost, ad-subsidized service tier from the video streamer.

Magnite (NASDAQ:MGNI) brought in sales totaling $118.08 million during Q1 according to data provided by Benzinga Pro. However, earnings decreased 9943.93%, resulting in a loss of $44.59 million.

Magnite (NASDAQ:MGNI) reported its Q1 earnings results on Wednesday, May 4, 2022 at 04:05 PM. Here's what investors need to know about the announcement. Earnings Magnite reported in-line EPS of $0.08 versus an estimate of $0.08.

The advertising technology industry has witnessed tremendous growth since the onset of the COVID-19 pandemic. And the momentum is expected to continue, driven by the rising number of internet users worldwide and robust online ad spending. Therefore, Wall Street analysts expect fundamentally sound adtech stocks Magnite (MGNI), The Trade Desk…