What: Shares of automated advertising specialist Rubicon Project (NYSE:RUBI) have jumped today, up by 13% as of 1:04 p.m. ET, after the company reported better-than-expected earnings.
So what: Adjusted revenue in the fourth quarter doubled to $83.7 million, which translated into non-GAAP earnings per share of $0.72. That bottom-line result made short work of the Street's best guesses, which called for just $0.33 per share in adjusted earnings. Adjusted EBITDA margin was $36 million, for an adjusted EBITDA margin of 43%.
Now what: Managed revenue jumped 55% to $336 million in the fourth quarter, and Rubicon enjoyed a take rate of 25%. Rubicon expects first-quarter revenue to be in the range of $64 million to $68 million, with adjusted earnings per share of $0.00 to $0.02. For the full year, sales should be $315 million to $355 million, with adjusted earnings per share of $0.65 to $0.78.