LiveRamp Holdings, Inc. (NYSE:RAMP) Q2 2024 Earnings Conference Call November 8, 2023 4:30 PM ET
Company Participants
Drew Borst - Vice President, Investor Relations
Scott Howe - Chief Executive Officer
Lauren Dillard - Interim Chief Financial Officer
Conference Call Participants
Chris Quintero - Morgan Stanley
Mark Zgutowicz - The Benchmark Company
Cal Bartyzal - Craig-Hallum Capital Group
Brian Fitzgerald - Wells Fargo
Operator
Good afternoon, ladies and gentlemen, and welcome to LiveRamp's Fiscal 2024 Second Quarter Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks there will be a question-and-answer session [Operator Instructions] As a reminder, this conference call is being recorded.
I would now like to turn the call over to your host Drew Borst, Vice President of Investor Relations.
Drew Borst
Thank you, operator. Good afternoon and welcome. Thank you for joining our fiscal 2024 second quarter earnings call. With me today are Scott Howe, our CEO; and Lauren Dillard, Interim CFO.
Today's press release and this call may contain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially. For a detailed description of these risks, please read the Risk Factors section of our public filings and the press release. A copy of our press release and financial schedules, including any reconciliation to non-GAAP financial measures is available at liveramp.com. Also, during the call today we will be referring to the slide deck posted on our website.
At this time, I'll turn the call over to Scott.
Scott Howe
Thank you Drew, and thanks to everyone joining our call today. As I reflect back upon our recent quarter, three key themes emerge. First, I'm really pleased with the progress we're making in our business. We posted strong second quarter results. Revenue and operating income exceeded our expectations, and we have good momentum with many of our leading indicators of growth.
Operating margins reached a record high, and we generated positive operating cash flow for a fifth consecutive quarter. And we continue to make progress against our Rule of 40 ambitions. Second, while it was a really nice quarter for us our entire team recognizes we now have an opportunity to build off our momentum. Throughout the business, there are areas that we can continue to improve, which keeps us humble yet also fuels our optimism for the future.
Third and finally, I continue to believe that our future is even brighter. Our business is aligned with some key mega trends: cloud computing, consented first-party data collaboration and growth in retail media networks and CTV. Let me talk about each one of these key themes in turn. First, strong business resilience and momentum. I'm pleased with our progress and our business is demonstrating strong resilience and momentum.