LiveRamp Holdings' (NYSE:RAMP) stock skyrocketed today after the company reported its fourth-quarter 2020 results.
As of 2:01 P.M. EST, the company's share price was up 25.4%.
LiveRamp released its fourth-quarter results yesterday, with revenue increasing 35% year over year, to $105.7 million. The sales jump was fueled by the company's subscription revenue segment, which saw its sales spike 28% from the year-ago quarter. The segment now accounts for 79% of LiveRamp's total sales.
The nearly $106 million in revenue in the fourth quarter not only impressed investors, but it also beat Wall Street's consensus estimate of $102.5 million. Additionally, investors were likely impressed that LiveRamp's non-GAAP loss per share of $0.05 was better than analysts' estimate of a loss of $0.14 per share.
The company's full-year financial results didn't disappoint either. Sales climbed 33% compared to the prior year, to $381 million, and LiveRamp's all-important subscription sales popped 29%.
The company's chief financial officer, Warren Jenson, said in a press release, "LiveRamp, along with most companies, is being impacted by the COVID-19 crisis. That said, we are fortunate to be operating from a position of strength."
LiveRamp said it won't issue full-year guidance right now because of the uncertainty the COVID-19 pandemic is causing, but it did provide a first-quarter outlook. The company's management expects sales to tick up 7% to $88 million and for its non-GAAP operating loss to be about $12 million in the first quarter.