The Rubicon Project reports 2nd-quarter loss but tops expectations

MarketsAssociated Press

The Rubicon Project Inc. on Tuesday reported a loss of $11.9 million in its second quarter, but the company's stock rose in extended trading after results beat estimates.

The Los Angeles-based company said it had a loss of 30 cents per share. Earnings, adjusted for stock option expense and amortization costs, were 6 cents per share.

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The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 20 cents per share.

The digital ad exchange operator posted revenue of $53 million in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $42.4 million.

For the current quarter ending in September, The Rubicon Project expects its adjusted per-share earnings to range from 3 cents to 4 cents.

The company said it expects revenue in the range of $63 million to $65 million for the fiscal third quarter.

The Rubicon Project expects full-year earnings in the range of 45 cents to 48 cents per share, with revenue ranging from $246 million to $250 million.

The Rubicon Project shares have fallen roughly 5 percent since the beginning of the year. They closed regular trading at $15.40 and rallied more than 15 percent in after-hours trading following the earnings report, to $17.75.

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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RUBI at http://www.zacks.com/ap/RUBI

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Keywords: The Rubicon Project, Earnings Report