(RTTNews) – Shares of LiveRamp Holdings, Inc. (RAMP), a software as a service (SaaS) company that offers an identity resolution platform, skyrocketed on Friday, after the company reported upbeat fourth quarter results. The market remained closed on Monday in observance of Memorial Day.
Friday, the stock was up $9.42 or 24.31% before closing at $48.17.
For the fourth quarter, adjusted loss per share was reported at $0.05, that beat the average estimate of analysts polled by Thomson Reuters at $0.14 loss.
Revenue for the quarter increased 35% year-over-year to $106 million, fueled by 28% growth in subscription revenue. Revenue beat the consensus estimate at $102.53 million.
For the first-quarter, the company expects revenue of approximately $88 million, an increase of approximately 7% year-over-year. The consensus estimate is at $101.14 million.
“LiveRamp, along with most companies, is being impacted by the COVID-19 crisis. That said, we are fortunate to be operating from a position of strength,” said LiveRamp President and CFO Warren Jenson.
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