Integral Ad Science (NASDAQ:IAS) stock is sliding lower on Wednesday after the digital advertising verification company released its earnings report for the fourth quarter of 2023.
Unfortunately, the company’s guidance for the first quarter of 2024 isn’t impressing investors. It’s expecting revenue for the period to range from $111 million to $113 million. That would see it missing Wall Street’s estimate of $119.73 million.
Integral Ad Science’s outlook for the full year of 2024 is for revenue between $530 million to $540 million. Yet again, this would miss analysts’ estimate of $544.14 million.
Strong Q4 Earnings Didn’t Save IAS Stock
That’s despite the company’s diluted earnings per share of 6 cents. This is better than the 4 cents per share that Wall Street was expecting. However, it is down from the 7 cents per share reported in the same period of the year prior.
Investors will also note that Integral Ad Science reported revenue of $134.3 million in its latest earnings report. That’s another beat next to analysts’ estimate of $134.29 million. It also represents a 14% increase year-over-year from $117.4 million.
Lisa Utzschneider, CEO of Integral Ad Science, said the following in the earnings report:
“We ended 2023 with strong fourth quarter performance across optimization and measurement with revenue growth of 16% and 18%, respectively. Social media revenue increased 37% in the fourth quarter as marketers trusted IAS to maximize their advertising spend globally, particularly in short-form video.”
IAS stock is down 29% as of Wednesday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
