magnite shares fell in afterhours trading wednesday after the advertising technology company lowered its outlook for adjusted earnings this year the stock fell 15 to 1054 in afterhours trading extending losses from the regular session when the stock dropped 13 shares had been up almost 17 this year through wednesdays close magnite expects adjusted earnings before its net income interest taxes depreciation and amortization for 2023 to be comparable to a year ago it had said it was expecting adjusted ebitda to be comparable or better than 2022 the updated outlook came after magnite reported a wider loss for the second quarter due to soaring expenses and an 11 increase in revenue adjusted pershare earnings however topped wall street expectations as did revenue