QuinStreet Shares Soar On Q1 Beat, Raised FY22 Outlook

QuinStreet Inc QNST reported first-quarter FY22 revenue growth of 15% year-on-year to $159.6 million, beating the consensus of $152.3 million.
The revenue excluding divested businesses grew 25% Y/Y.
Adjusted EPS of $0.17 beat the consensus of $0.16.
"Revenue in all client verticals grew at double-digit rates or better year-over-year, including in auto insurance," said CEO Doug Valenti.
Outlook: QuinStreet sees Q2 revenue of $130 million - $135 million, below the consensus of $145 million.
The Q2 outlook reflects normal seasonality and the expected short-term effects of increased claim costs on auto insurance client budgets.
QuinStreet sees FY22 revenue of $650 million - $670 million (prior view $635 million-$665 million), above the consensus of $642 million.
The FY22 outlook reflects specific indications from auto insurance clients of budget increases in the January - June period, stronger than expected momentum in credit-driven client verticals, and acceleration of growth initiatives across the business, including QRP.
Price Action: QNST shares traded higher by 24% at $16.66 in the premarket session on the last check Thursday.

Momentum45.84

Growth40.87

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