Client Decision CyclesClient decision cycles remain elongated, which combined with tougher y/y comps, lower working days, furlough impacts, and lower 3P pass-through revenues, will moderate 2H growth.
Margin PressureMargins were lighter than expected, which isn't helpful amid secular fears on the group with heightened competition.
Operating MarginOM of 21.0% missed Street estimates by -20 bps, due to continued employee additions, S&M investments, and higher post-sale customer support.