Tremor Video (NASDAQ:TRMR) shares surged more than 8% yesterday after the company reported its Q1 earnings results, with EPS of ($0.03) coming in better than the Street estimate of ($0.05). Revenue was $71.74 million, beating the Street estimate of $66.49 million.
Management noted an improved Q2 environment and cautious optimism for the year. That said, guidance was maintained, with management now also expecting 90% of fiscal 2023 revenue to be programmatic.
According to the analysts at RBC Capital, the heavy lifting is done with the Amobee integration as H2 performance will be driven by sales force execution and CTV momentum.