Viant Technology Plunges As Revenue Outlook Below Estimates

(RTTNews) - Shares of advertising software company Viant Technology Inc. (DSP) are down more than 23% on Friday, after the company's first-quarter revenue outlook came in below the consensus estimates.

For the first quarter, Viant expects revenue in the range of $42 million- $44 million. On average, analysts polled by Thomson Reuters expect the company to report revenue of $55.13 million.

The company reported net income of $7.52 million or $0.11 per share in the fourth quarter, lower than 12.86 million or $12.86 per share a year ago. The consensus estimate stood at $0.01 loss per share.

Revenue for the quarter increased to $82.72 million from $56.46 million a year ago. The consensus estimate was for $73.21 million.

DSP touched a new low of $5.60 this morning before edging up to $6 currently.