Taboola Stock Soars On Strong Q2 Performance, Hiked Outlook: The Details
Portfolio Pulse from Anusuya Lahiri
Taboola.Com Ltd (NASDAQ:TBLA) reported Q2 FY23 revenues of $332 million, beating the analyst consensus of $315.44 million, despite a 3.1% YoY decrease. The company also reported an adjusted EPS loss of $(0.00), better than the expected $(0.05) loss. Gross profit slid 16.6% to $97.1 million and operating loss widened to $(25) million. The company saw new wins and renewals from key partners, and significant growth in eCommerce and Taboola News. The company raised its FY23 outlook, expecting revenues of $1.438 billion - $1.469 billion.
August 09, 2023 | 3:22 pm
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POSITIVE IMPACT
Taboola's Q2 FY23 results beat estimates, with significant growth in eCommerce and Taboola News. The company also raised its FY23 outlook.
Taboola's better-than-expected Q2 FY23 results and raised FY23 outlook are likely to have a positive impact on its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100