LOS ANGELES (AP) _ The Rubicon Project Inc. (RUBI) on Wednesday reported a first-quarter loss of $15.8 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Los Angeles-based company said it had a loss of 33 cents. Losses, adjusted for stock option expense and costs related to mergers and acquisitions, came to 16 cents per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 12 cents per share.
The digital ad exchange operator posted revenue of $46 million in the period. Its adjusted revenue was $45.4 million, which beat Street forecasts. Five analysts surveyed by Zacks expected $43 million.
The Rubicon Project shares have decreased 23 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $5.71, a fall of 71 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RUBI at https://www.zacks.com/ap/RUBI
Keywords: The Rubicon Project, Earnings Report