DoubleVerify Holdings Inc. shares rose in the extended session Tuesday after the digital-media analytics company hiked its annual guidance based on its third-quarter performance.
shares rose nearly 7% after hours, following a 1.1% decline in the regular session to close at $23.44.
The company reported third-quarter net income of $10.3 million, or 6 cents a share, compared with $7.9 million, or 5 cents a share, in the year-ago period. Revenue rose to $112.3 million from $83.1 million in the year-ago quarter.
Analysts surveyed by FactSet had forecast 12 cents a share on revenue of $109.2 million.
“We are raising the midpoint of our full-year guidance range by the magnitude of our outperformance in the third quarter,” said Nicola Allais, DoubleVerify’s chief financial officer, in a statement. “Our outlook for the fourth quarter is based on our current visibility and assumes a typical upswing in our Activation business into year end.”
DoubleVerify forecast revenue of $131 million to $135 million for the fourth quarter, and $450 million to $454 million for the year.
Analysts had estimated revenue of $133 million for the fourth quarter, and $448.9 million for the year.