Shares of online advertising expert PubMatic skyrocketed on Tuesday morning. At 12:30 p.m. ET, the stock had gained 40.8%, and the intraday chart was still trending higher. PubMatic published third-quarter results last night, crushing Wall Street's estimates across the board. Wall Street analysts didn't see these numbers coming The company posted analyst-stumping financials, citing strong demand for connected TV (CTV) advertising and a successful launch of artificial intelligence (AI) tools and features across PubMatic's platforms.
PubMatic Inc. hid from stockholders that its revenue tied to a top advertisement-buying partner was slipping as it shifted clients to a new platform, a proposed class action says. The class proposed in the US District Court for the Northern District of California lawsuit filed Wednesday would include those who acquired PubMatic securities from Feb. 27, 2025, through Aug. 11, 2025, then watched them decline in value.