IronSource Shares Up 7% Following Q1 Results

ironSource Ltd. (NYSE:IS) shares closed more than 7% higher on Friday following the company’s announced Q1 results, with EPS of $0.05 coming in above the Street estimate of $0.03. Revenue was $190 million, beating the Street estimate of $183.71 million.
The better-than-expected Q1 results were overshadowed by the lowering of full 2022 revenue and EBITDA estimates given changes in macro conditions and gaming customers suggesting user acquisition spending will tick down.
When compared to the weaker guidance, analysts at Deutsche Bank naturally expect this to raise questions regarding the company’s ability to maintain share. Here management was adamant there is no issue and in fact highlighted sequential mediation share gains among the top 100 games.
Deutsche Bank lowered its price target on the company’s shares to $6 from $9, while reiterating its buy rating.

Follow us on Google news for more updates and News

Full Disclaimer



Get the most important news and analyses for Free.

Thank you for subscribing.

Something went wrong.