ATY - Why Shares of AcuityAds Are Down 23% Today
Shares of the ad tech company AcuityAds Holdings (NASDAQ: ATY) were more than 23% lower as of 12:15 p.m. on Wednesday after the company reported third-quarter earnings results.
Acuity reported earnings per share in Canadian dollars of $0.06 ($0.048) on total revenue of CA$27.5 million ($22.2 million), which beat on earnings per share but missed on revenue.
The company's relatively new flagship product, illumin, which allows clients to plan and execute ad campaigns in real time, saw revenue grow to CA$7.4 million, up 42% from the sequential quarter. However, total revenue declined from the sequential quarter.
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Why Shares of AcuityAds Are Down 23% Today