Telaria (NYSE:TLRA), provider of a software platform to help publishers manage digital video advertising, saw its stock rise as much as 22.9% on Wednesday. Shares closed the trading day up 17.5%.
The stocks gain followed the company's fourth-quarter update. The results featured strong numbers across the board, with revenue handily surpassing analysts' average forecast for the metric.
Telaria reported fourth-quarter revenue of $19.7 million, up 31% year over year. Analysts, on average, had expected Telaria to report revenue of $15.7 million. Telaria's earnings per share were $0.03, up from a loss per share of $0.02 in the year-ago quarter. The consensus forecast for Telaria's earnings per share was a loss of $0.03.
"We ended the year on a strong note driven by growth in CTV [connected TV], which increased over threefold from last year and represented 33% of revenue for the quarter," said Telaria CEO Mark Zagorski.
Management guided for first-quarter revenue between $11.5 million and $12.5 million, ahead of a consensus analyst estimate for revenue of $10.4 million during the period.
For the full year, Telaria says it expects revenue between $63 million and $67 million, also ahead of analysts' average forecast for 2019 revenue of $60.9 million.
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