Ad platform Cardlytics beats Wall Street expectations, stock up 11%

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Shares of Cardlytics Inc. CDLX, -3.89% rose 11% in the extended session Tuesday after the ad platform company reported a narrower-than-expected quarterly loss and sales were above expectations. Cardlytics said it lost $44.5 million, or $1.35 a share, in the third quarter, compared with a net loss of $15.4 million, or 56 cents a share, in the third quarter of 2020. Adjusted for one-time items, the company lost 33 cents a share. Revenue rose 41% to $65 million, the company said. Analysts polled by FactSet expected an adjusted loss of 49 cents a share on sales of $62 million for the company. The stock ended the regular trading day 3.9% lower.

This article was originally published by Marketwatch.com. Read the original article here.

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