Shares of online content recommendation platform Taboola (NASDAQ:TBLA) are on the rise today after it delivered a better-than-anticipated set of second-quarter numbers on both top-line and bottom-line fronts.
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While revenue declined 3.1% year-over-year to $332 million, the figure still came in ahead of expectations by nearly $16.8 million. Likewise, the net loss per share at $0.09 too landed narrower than estimates by $0.02. The company is seeing growth across eCommerce and Taboola News with the latter expected to grow nearly 100% over the past year.
Importantly, Adam Singolda, the CEO of Taboola believes Yahoo, Performance Advertising, eCommerce, and Bidding each offer a potential $1 billion opportunity for the company. Looking ahead, for the third quarter, Taboola sees revenue hovering between $331 million to $357 million. Adjusted EBITDA is anticipated between -$2 million to $10 million.
For the full-year 2023, revenue is expected to land between $1,438 million to $1,469 million alongside adjusted EBITDA between $73 million and $80 million.
Overall, the Street has a $5 consensus price target on Taboola alongside a Strong Buy consensus rating. Shares of the company have gained nearly 9.4% so far this year.
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