: Cardlytics stock soars more than 30% after company boosts forecast

Cardlytics Inc. shares CDLX were shooting more than 30% higher early in Tuesday’s session after the digital-advertising company boosted its quarterly forecast. Cardlytics now expects $63.5 million to $66.5 million in revenue for the first quarter, whereas its prior outlook was for $54.0 million to $63.0 million. The company also expects $93.0 million to $97.0 million in bookings, which take into account consumer incentives. Cardlytics gave an earlier bookings forecast of $84.0 million to $93.0 million for the quarter. Management anticipates a $5 million to $8 million loss on the basis of adjusted earnings before interest, taxes, depreciation and amortization (Ebitda), while its previous outlook called for a $10 million to $17 million loss on the metric. “Despite a difficult macroeconomic environment, our shift to a product-led operating structure is already yielding positive results,” Chief Executive Karim Temsamani said in a release. “Our improved topline guidance is driven by better-than-expected growth in the US business and the product optimizations discussed on our last earnings call.” Temsamani also called out Cardlytics’ “rigorous approach in managing our cost structure.”

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