Stock Track | Ibotta (IBTA) Shares Soar 5.14% as Q3 Earnings Beat Propels the Stock

Stock Track

2024-11-16

Ibotta Inc. (NYSE:IBTA) saw its stock soar 5.14% intraday on Friday, November 15th, 2024 after reporting stellar third quarter 2024 earnings results.

The mobile shopping rewards app and media company delivered a net income of $17.2 million for the quarter, up from $0 in Q3 2023. Earnings per share of $0.56 came in significantly higher than analyst expectations, beating estimates by a whopping 45%.

Revenue for the period also exceeded forecasts, climbing 16% year-over-year and outpacing the 3.7% growth projected for the overall US media industry. Looking ahead, Ibotta guided for continued robust revenue growth of around 16% annually over the next three years.

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(NYSE:IBTA) saw its stock soar 5.14% intraday on Friday, November 15th, 2024 after reporting stellar third quarter 2024 earnings results.</p>\n\n<p>The mobile shopping rewards app and media company delivered a net income of $17.2 million for the quarter, up from $0 in Q3 2023. Earnings per share of $0.56 came in significantly higher than analyst expectations, beating estimates by a whopping 45%.</p>\n\n<p>Revenue for the period also exceeded forecasts, climbing 16% year-over-year and outpacing the 3.7% growth projected for the overall US media industry. 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