Rubicon Project (RUBI) Tops Q2 EPS by 7c; Guides Below the Street

Rubicon Project (NYSE: RUBI) reported Q2 EPS of $0.17, $0.07 better than the analyst estimate of $0.10. Revenue for the quarter came in at $65.1 million versus the consensus estimate of $63.76 million.

"Q2 was a solid quarter for Rubicon Project, highlighted by 33% revenue growth year-over-year and very strong growth in our strategic business drivers of Mobile, Video and Orders. Mobile alone accounted for more than $325 million of advertising spend on our platform in the last 12 months,” said Frank Addante, CEO and Founder of Rubicon Project.

"The digital advertising market is undergoing changes that have fueled headwinds that we expect will continue through the remainder of the year—particularly as it relates to desktop advertising in the U.S."

"Nonetheless, Rubicon Project has continued to generate healthy cash flow, which furthers our ability to make continued strategic investments in our long-term growth drivers. This, combined with our exceptional culture, technology, Buyer and Seller integrations, and data and network effects, have positioned Rubicon Project to capitalize on the growth of advertising for years to come."

GUIDANCE:

Rubicon Project sees Q3 2016 EPS of $0.07-$0.09, versus the consensus of $0.12. Rubicon Project sees Q3 2016 revenue of $60-64 million, versus the consensus of $70.1 million.

Rubicon Project sees FY2016 EPS of $0.75-$0.85, versus the consensus of $0.90. Rubicon Project sees FY2016 revenue of $260-275 million, versus the consensus of $295.2 million.

For earnings history and earnings-related data on Rubicon Project (RUBI) click here.

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