Taboola CEO Credits AI and E-commerce for Strong Q3 Results, Stock Soars
Portfolio Pulse from Anusuya Lahiri
Taboola.Com Ltd (NASDAQ:TBLA) reported Q3 FY23 revenues of $360.2 million, beating the analyst consensus. The company's gross margin contracted to 28.0%, while gross profit slid 2% to $100.7 million. The company's operating loss improved year over year. CEO Adam Singolda attributed the performance to the momentum in its core business, eCommerce, Taboola News, and its AI-powered bidding technology. The company reiterated its FY23 revenues outlook.
November 08, 2023 | 6:58 pm
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Taboola reported strong Q3 FY23 results, beating analyst consensus. The company's stock price soared following the announcement.
Taboola's Q3 FY23 results exceeded analyst expectations, which is a positive signal for investors. This strong performance, attributed to the company's core business, eCommerce, and AI technology, has led to a surge in the company's stock price.
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