NEW YORK (TheStreet) -- Shares of Rubicon (RUBI) - Get Report are surging 24.95% to $12.77 today after the advertising company reported better than expected results in its first full quarter as a public company, or the fiscal second quarter.
For the full year, Rubicon Project now expects revenue of $117 million to $119 million, compared with its May estimate of $111 million to $114 million.
The company announced full year earnings per share guidance with a forecast range between a loss of -41 cents to -34 cents for the period, compared to the Thomson Reuters consensus estimate of -52 cents per share.
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Revenue was up 49% to $28.3 million for the fiscal second quarter, ahead of its May guidance for sales of $24.5 million to $25.5 million.
However, the company's net loss widened in the fiscal second quarter to $9.4 million from $3.2 million a year earlier, due to increased general expenses in sales and marketing.
For the third quarter, Rubicon forecasts earnings of -20 cents per share to -17 cents per share.