Shares of Rubicon Project have jumped roughly 25% on Wednesday follow the company’s Q2 earnings report on Tuesday. Rubicon announced second quarter revenue of $28.3 million, up 49% year-over-year.
The company said it managed $153.5 million in revenue in Q2, up 36% year-over-year. In a similar vein, the company’s managed revenue via RTB (real-time bidding) grew 75% year-over-year.
Rubicon saw its stock jump immediately following a successful Q1 earnings report as well, but that wasn't enough to staunch a decline in stock price that begin in late-April, shortly after the company's IPO.But CEO Frank Addante is optimistic. “[In Q2] we released video into private beta and tooka huge leap in mobile,” he said in a statement. He also referenced the company’s partnership with InMobi -- a mobile native ad exchange -- as a high point from the quarter.
Should Rubicon successfully roll out a video offering, it would patch up what has been considered the company's Achilles heel. A recent Forrester reportnamed Rubicon as a “Leader” in the SSP (supply-side platform) field, but knocked the company for its lack of a video solution.
At press time, shares of RUBI were trading at $12.69, and Rubicon’s market cap was $454.86 million.