LiveRamp Climbs On Narrower Q4 Loss, Deal With AdAdapted
Shares of data connectivity platfom LiveRamp Holdings, Inc. (RAMP) are up more than 11% Wednesday morning after reporting narrower loss for the fourth quarter as well as on the news of its partnership with AdAdapted.
AdAdapted is a shopping list marketing and insights platform built for Consumer packaged goods (CPG) brands, agencies, and retailers.
LiveRamp’s proprietary identity graph, LiveRamp ID, is a consumer demographic database, with more than 250 million consumers across the world.
“With this partnership, AdAdapted’s retailers and CPG brands can now unlock new rich audience sets to further strengthen campaign performance,” AdAdapted said.
Tuesday, LiveRamp reported fourth quarter results with revenue growth of 19% at $142 million, helped by increase in subscription revenue.
The company posted net loss of $29.39 million or $0.43 per share in the fourth quarter, narrower than $32.85 million or $0.49 per share in the same quarter a year ago. Excluding one-time items, loss was $0.01 per share. Analysts polled by Thomson Reuters were expecting earnings of $0.02 per share.
RAMP, currently at $25.62, has traded in the range of $22.32-$58.74 in the past 52 weeks.
Source: Read Full Article