🟢 Magnite is trading 19.79% up today after Q3 beat and raised outlook

Magnite is trading at $27.30, up 19.79%, after its Q3 beat and raised 2026 outlook.

• November 4 results beat expectations: Q3 revenue was $204.2 million; contribution ex-TAC was $200.6 million, up 20% year over year.
• CTV contribution ex-TAC rose 39% to $105.4 million.
• Management raised its 2026 contribution ex-TAC growth outlook to about 17% from 13%–14%, and expects 2026 political contribution ex-TAC above $40 million, versus $15 million previously. The beat and higher outlook were the company-specific catalyst for the November 5 move.