What: Shares of advertising enterprise software company TubeMogul Inc (NASDAQ:TUBE) jumped as much as 11% in early trading today and were up 8% just before market close. What was driving investors' moves?

So what: Third-quarter results were released after the market closed yesterday and revenue jumped 70% to $46.5 million and gross profit increased 63% from a year ago to $31.1 million. But the company reported a net loss of $3.8 million, or $0.11 per share. The god news is that the loss beat the $0.22 loss analysts expected.  

Management also increased fourth-quarter guidance, expecting revenue of $51 million to $53 million and EBITDA of -$2 million to breakeven.  

Now what: Beating expectations can lead to a pop in a stock, but on closer examination TubeMogul still isn't profitable and for the full year it's burning cash and expecting to generate negative EBITDA. In a market that wants companies to prove they can make money, that's not a great value proposition, and despite the growth numbers, it will keep me from turning bullish on the stock today.

Travis Hoium has no position in any stocks mentioned. The Motley Fool owns shares of and recommends TubeMogul. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.