HK Stock Market Move | MOBVISTA (01860) opened nearly 15% higher after its performance announcement. Its third-quarter revenue surpassed $400 million, with Mintegral's revenue growth accelerating.

MOBVISTA (01860) opened nearly 15% higher after performance announcement, up by 14.83% to HK$5.73 as of press time, with a trading volume of HK$25.3094 million. On the news front, MOBVISTA released its performance report for the third quarter with the group's revenue hitting a new high, increasing by 54.6% year-on-year to US$416 million; during the same period, the group's profit continued to improve, with net income increasing by 49.2% year-on-year to US$109 million. Among them, its programmatic advertising platform, Mintegral, achieved a record revenue of US$403 million, a significant increase of 57.6% year-on-year and 25.7% month-on-month, accelerating from the second quarter of 2024 on a year-on-year and month-on-month basis. CICC stated that MOBVISTA announced its performance for the third quarter of 2024: revenue of US$420 million, up by 54.6% year-on-year, exceeding our previous expectations, mainly driven by strong growth in vertical sectors such as gaming and e-commerce; adjusted net profit attributable to the parent was US$11.72 million, corresponding to an adjusted net profit margin of 2.8%, which is basically in line with our previous expectations after excluding the impact of the arbitration expenses of Reyun. The bank said that considering the upgrade and iteration of the company's algorithm capabilities and the stabilization of the industry environment, it raised its revenue forecast for 2024 and 2025 by 17.4% and 17.8% to US$1.47 billion and US$1.76 billion, respectively, and raised its adjusted net profit forecast for 2024 and 2025 by 17.1% and 13.2% to US$37.41 million and US$69.39 million respectively.