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Science

Why is Integral Ad Sciences (IAS) stock price down 29% today?

thedailyposting.comBy thedailyposting.comFebruary 28, 2024No Comments

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IAS Stock - Why is Integral Ad Sciences (IAS) stock down 29% today?

Source: weedezign (via Shutterstock)

Comprehensive advertising science (NASDAQ:IAS) Stocks are falling on Wednesday after the digital advertising verification company released its fourth quarter 2023 earnings report.

Unfortunately, the company’s guidance for the first quarter of 2024 has not impressed investors. The company expects sales for the period to be in the range of $111 million to $113 million. That would be below Wall Street estimates of $119.73 million.

Integral Ad Science’s full-year 2024 revenue guidance is between $530 million and $540 million. This is still lower than analysts’ expectations of $544.14 million.

Strong fourth-quarter profits didn’t save IAS stock

That’s despite the company’s diluted earnings per share of 6 cents. That’s better than the 4 cents per share that Wall Street was expecting. However, this is down from 7 cents per share in the same period last year.

Investors will also note that Integral Ad Science reported revenue of $134.3 million in its most recent earnings report. This is the second highest after analysts’ expectations of $134.29 million. Also, compared to the same period last year, he earned a 14% increase from $117.4 million.

Lisa Utschneider, CEO of Integral Ad Science, said in the earnings call:

“We ended 2023 with strong fourth quarter performance, with revenue growth for both optimization and measurement of 16% and 18%, respectively.Marketers around the world trust IAS. Social media revenue increased 37% in the fourth quarter as we maximized ad spend, especially on short-form videos.”

IAS stock was down 29% as of Wednesday morning.

Investors can check out more of the latest stock market stories below.

All the latest stock market news traders need to know on Wednesdays.That includes what’s going on Ogenics (NYSEMKT:Augen) stock, beyond meat (NASDAQ:bind) Inventory and Nauticus Robotics (NASDAQ:kit) Today’s stock. You can see the news in detail at the following link.

More stock market news on Wednesday

On the date of publication, William White did not have (directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer and are influenced by InvestorPlace.com. Publishing guidelines.

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