Understanding the Market | MOBVISTA opened nearly 15% higher after earnings, with third-quarter revenue exceeding $400 million and Mintegral's revenue growth accelerating
After releasing its performance results, MOBVISTA's stock price opened nearly 15% higher, and as of the time of writing, it has risen 14.83% to HKD 5.73, with a trading volume of HKD 25.3094 million. The third-quarter revenue reached a new high of USD 416 million, a year-on-year increase of 54.6%; net income grew by 49.2% year-on-year to USD 109 million. The revenue of its Mintegral platform was USD 403 million, a year-on-year increase of 57.6%. China International Capital Corporation (CICC) has raised its revenue and net profit forecasts for 2024 and 2025, mainly benefiting from strong growth in gaming and e-commerce
According to Zhitong Finance APP, MOBVISTA (01860) opened nearly 15% higher after its earnings report, and as of the time of writing, it has risen by 14.83% to HKD 5.73, with a trading volume of HKD 25.3094 million.
In terms of news, MOBVISTA released its earnings report, showing that in the third quarter, the group's revenue reached a new high, increasing by 54.6% year-on-year to USD 416 million; during the same period, the group's profit continued to improve, with net income growing by 49.2% year-on-year to USD 109 million. Among them, the programmatic advertising platform Mintegral achieved a record revenue of USD 403 million, a year-on-year increase of 57.6% and a quarter-on-quarter growth of 25.7%, with both year-on-year and quarter-on-quarter growth accelerating compared to the second quarter of 2024.
CICC stated that MOBVISTA announced its third-quarter 2024 results: revenue of USD 420 million, a year-on-year increase of 54.6%, exceeding our previous expectations, mainly benefiting from strong growth in verticals such as gaming and e-commerce; adjusted net profit attributable to the parent company recorded USD 11.72 million, corresponding to an adjusted net profit margin of 2.8%. After excluding the impact of the Hotyun arbitration-related expenses, it basically aligns with our previous expectations. The firm indicated that considering the upgrade and iteration of the company's algorithm capabilities and the stabilization of the industry environment, it raised its revenue forecasts for 2024 and 2025 by 17.4% and 17.8% to USD 1.47 billion and USD 1.76 billion, respectively, and raised its adjusted net profit forecasts for 2024 and 2025 by 17.1% and 13.2% to USD 37.41 million and USD 69.39 million
