$ZETA (-1,8 %) Global rallied for the third day in a row on Wednesday, gaining 27.47 percent to close at $20.23 per share. This was the result of an impressive earnings performance that strengthened the outlook for the full year.
In an updated report, Zeta Global Holdings Corp (NYSE:ZETA) announced that it narrowed its net loss by 54 percent to $12.8 million in the second quarter of the year from $28 million in the year-ago period. Revenue increased 35 percent to $308 million, compared to $228 million a year earlier. Turnover exceeded the original forecast by 11 million US dollars.
In the first half of the year, the net loss decreased by 50 percent from 67.6 million dollars in the previous year to 34 million dollars, while turnover increased by 35 percent from 423 million dollars to 573 million dollars.
Following the results, Zeta Global Holdings Corp. raised its growth forecast for both the third quarter and the full year 2025.
Revenue for the current quarter is expected to be between $327 million and $329 million, up from the previously expected $323 million. The adjusted forecast corresponds to an annual growth rate of 22 to 23 percent.
Annual sales are expected to be between 1.258 and 1.268 billion US dollars, compared to the previous forecast of 1.242 billion US dollars. The updated outlook corresponds to growth of 25 to 26 percent compared to the previous year.
Source: insidermonkey.com