Magnite is trading 8.6% up at $22.45 today after reporting better-than-expected second quarter 2026 results and significant growth in its Connected TV segment.
- Revenue of $192.8 million and non-GAAP EPS of $0.26 both beat analyst estimates, driven by a 36% surge in Connected TV (CTV) revenue.
- CTV now accounts for more than half of the company's total revenue, marking a key milestone in its business transition.
- Management reaffirmed its full-year 2026 growth targets, providing further support for the positive market reaction.