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.