Ibotta shares rallied just over 48% on Tuesday after the digital promotions company reported second-quarter earnings that beat estimates and announced a partnership with 7-Eleven. Non-GAAP earnings per share came in at $0.46, exceeding consensus by $0.09, while revenue of $88.9 million topped expectations by $3.93 million and rose 3.4% year-over-year. CEO Bryan Leach said the quarter exceeded the high end of guidance and that the company returned to year-over-year revenue growth a quarter ahead of schedule, driven by improved advertiser offer supply. The 7-Eleven deal will bring performance-based digital promotions to more than 11,500 convenience store locations through the 7-Eleven, 7NOW, and Speedway apps. The stock traded at $36.40 in early action, up $10.73 from the previous close.
Seven & I Holdings Co., Ltd.
CP ALL Public Company LimitedIbotta, Inc.Q2 earnings beat and revenue growth