RAMP - Here's Why LiveRamp Stock Jumped Today
2024-05-23 12:16:17 ET
Shares of advertising technology company LiveRamp Holdings (NYSE: RAMP) jumped higher on Thursday after the company reported financial results for its fiscal fourth quarter of 2024. As of 11 a.m. ET today, LiveRamp stock was up almost 11%.
Without getting into the nitty gritty, LiveRamp's platform provides data for advertisers that's important as digital advertising transitions away from third-party identifiers. In the fourth quarter (which ended in March), the company generated revenue of $172 million, which was ahead of expectations and up an encouraging 16% year over year.
On the bottom line, shareholders had additional reason for excitement. The company had full-year cash from operations of nearly $106 million. For perspective, it had just $34 million in fiscal 2023. That's a big increase, and it's part of what's fueling LiveRamp stock today.
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Here's Why LiveRamp Stock Jumped Today