Regulatory Scrutiny - France's antitrust regulator notified Meta of a potential violation of competition rules [1] Industry Impact - The potential violation relates to the online advertising sector [1]

Investment Rating - The report does not explicitly state an investment rating for the industry or specific companies within it [10]. Core Insights - The agency has visibility into approximately $1 billion of ad spend, with around $650 million allocated for gaming user acquisition, which is expected to grow by 25% year-over-year in FY25 compared to a 30% growth in FY24 [2][5]. - In Q2, gaming user acquisition (UA) growth exceeded expectations, while e-commerce growth moderated compared to previous discussions [2]. - Unity's contribution to the ad spend has increased, now accounting for about 6% of the expert's wallet, up from 5% in FY24 [5]. - The report highlights that APP's e-commerce budget grew in the mid-single to high-single digits quarter-over-quarter in Q2, with expectations for similar growth in Q3 and acceleration in Q4 [5]. Summary by Sections Gaming Spend - APP's Q2 gaming UA budget growth accelerated to 27%, up 2 percentage points from Q1 [5]. - Unity's share of the expert's wallet increased to approximately 6% [5]. - The report notes that the return on ad spend (ROAS) improvement for Vector has been less than during the beta phase, but significant performance improvements are anticipated in Q4 FY25 to Q1 FY26 [5]. E-commerce Spend - APP's e-commerce budget grew in the mid to high single digits quarter-over-quarter in Q2, with a high-20% share of e-commerce brands now onboarded to APP [5]. - Some of the largest advertisers reduced their spending in Q1 and Q2, but their daily spend levels stabilized in June [5]. - New advertisers on the platform reported strong first-purchase rates and efficient customer acquisition costs (CAC) [5]. Vertical Performance - The best-performing verticals include cosmetics, select electronics, and cooking products, while CPG and Food & Beverage were noted as "surprise" winners [5]. - Some retail and clothing brands have struggled to effectively utilize APP as a channel [5]. APP Ad Manager Updates - APP introduced creative-level reporting, allowing advertisers to assess performance by specific ad formats, which supports better optimization [5]. - Interactive creative formats, such as drag-and-drop and carousel units, are gaining traction, with early adopters observing ROAS gains of 5-15% [5]. Market Sentiment - Advertiser enthusiasm at Cannes was primarily focused on Meta and Google, viewed as the most reliable performance channels [5]. - There is a noted shift towards performance-driven spending, with ROAS and incrementality being top priorities [5]. Competitive Landscape - Google is becoming more aggressive in targeting APP's mediation share, offering incentives such as exclusive inventory deals and upfront payments [5].

Combined Company to Operate as Teads and Trade on Nasdaq under the New Ticker "TEAD" NEW YORK, June 09, 2025 (GLOBE NEWSWIRE) -- Outbrain Inc. (NASDAQ: OB), which is operating under the new Teads brand following Outbrain's acquisition of Teads in February 2025, announced today that the combined company has completed its corporate renaming from "Outbrain Inc." to "Teads Holding Co." The combined company will begin trading under the new ticker symbol "TEAD" on the Nasdaq effective June 10, 2025. "The name cha ...

Summary of Yelp (YELP) Conference Call - May 29, 2025 Company Overview - **Company**: Yelp (YELP) - **Industry**: Online review and local services platform Key Points Evolution of Business Model - Transition from a sales headcount-driven growth model to a product-driven growth model, focusing on product delivery and leveraging emerging technologies like AI and large language models [4][5] - Approximately two-thirds of revenue now comes from services, marking a significant shift from the traditional focus on restaurant and retail reviews [5] Services Business Performance - Services grew at approximately 11% each quarter in 2024, with a 14% growth in Q1 2025, partly due to the acquisition of RepairPal [6][7] - Home services have been a major driver of growth, with enhancements in the "Request Quote" feature allowing better matching of consumers with service providers [7][8] - Expansion into other service categories, including auto services through the RepairPal acquisition, is expected to drive further growth [8][20] Multi-Location Services Strategy - Focus on mid-market and enterprise customers to increase advertising revenue from services [12][13] - Development of APIs and lead management systems to support enterprise customers across multiple locations [13][14] Challenges in Restaurant and Retail Sector - The restaurant and retail segment has faced challenges due to rising input costs and inability to pass these costs onto consumers, resulting in a 3% decline in Q1 2025 [24][25] - Competition from food delivery platforms and retail ad networks has increased, impacting advertising budgets [28][29] - Yelp is enhancing consumer experience and ad matching technology to retain advertiser interest [26][30] Traffic and Engagement Insights - Experimentation with paid traffic acquisition led to increased project generation but did not result in higher ad budgets from advertisers, prompting a pullback in spending [31][33] - Focus on ROI-driven strategies to ensure that advertising budgets are effectively utilized [34] AI Integration and Future Outlook - AI is viewed as a significant opportunity, with investments in Yelp Assistant and other AI-driven features to enhance user experience and service matching [35][36] - Plans to leverage AI for improving call handling and customer engagement [37][38] Macroeconomic Sensitivity - The restaurant and retail business is more cyclical and sensitive to economic downturns, while the services business has a significant non-discretionary component [41][42] - Service professionals tend to increase advertising during economic slowdowns to maintain business [42] Revenue Guidance and Margin Outlook - Revenue guidance for Q2 2025 indicates a slowdown, with expectations for acceleration in the second half of the year [44] - Factors contributing to margin pressure include increased data spending for AI products, the lower gross margin from RepairPal, and fluctuations in employee-related expenses [48][51] Conclusion - Yelp is focused on delivering value to both consumers and advertisers, with a strong emphasis on enhancing product offerings and leveraging AI technologies to drive future growth [43][52]

Core Viewpoint - Market downturns present a significant opportunity to acquire quality stocks at discounted prices, as evidenced by the recent market reaction to global tariffs imposed by President Trump, which led to major market indexes falling into correction territory [1][2]. Company Summaries Nvidia - Nvidia has solidified its position as a leading technology company amid the AI revolution, with its GPUs being the industry standard for AI applications [4]. - Despite a 37% decline in stock price due to concerns over AI acceleration and tariffs, Nvidia's fiscal 2025 fourth quarter revenue reached $39 billion, a 78% year-over-year increase, and EPS surged 82%, indicating strong growth potential [5][6]. - The stock is currently priced at 31 times forward earnings, which is attractive given its growth trajectory [6]. Broadcom - Broadcom is positioned to benefit from digital transformation, providing semiconductors and software solutions essential for various industries, including AI infrastructure [7]. - In fiscal 2025 first quarter, Broadcom reported a 25% increase in revenue to $15 billion and a 45% rise in adjusted EPS to $1.60, showcasing its growth potential [8]. - The stock is trading at 35 times forward earnings, supported by a consistent growth track record [8]. Amazon - Amazon's stock fell nearly 31% following the tariff announcement, but the company has historically adapted well to macroeconomic changes [9]. - Digital retail accounts for 81% of Amazon's revenue, while AWS contributes 63% of its profits, which is less affected by tariffs [11]. - The stock is considered fairly priced at 3 times next year's sales, with potential benefits from improving economic conditions [12]. Shopify - Shopify's stock dropped over 40% due to tariff concerns, particularly affecting its smaller merchants [13][14]. - The company launched tariffguide.ai to help merchants navigate tariff rates, demonstrating agility in response to challenges [15]. - In the first quarter, Shopify's revenue increased by 27% to $2.36 billion, and operating income surged 136%, with the stock priced at 15 times sales, below its 10-year average of 22 [15][16]. The Trade Desk - The Trade Desk experienced a significant stock decline of 67% due to missing earnings expectations and the broader market downturn [17][18]. - The management acknowledged execution missteps and outlined corrective measures, which restored investor confidence [19]. - In the first quarter, revenue grew 25% to $616 million, and adjusted EPS increased by 27%, with a PEG ratio of 0.92 indicating potential undervaluation [20].

Core Insights - The article emphasizes the challenges advertisers face with Facebook ad accounts, particularly the risk of accounts being restricted or banned due to strict policies and algorithmic flags [1][7][8] - DFUmedia.com is highlighted as the top vendor for purchasing reliable Facebook accounts, offering a comprehensive support system and high-quality accounts [5][11][35] Group 1: DFUmedia.com Overview - DFUmedia.com is recognized for providing strong, aged Facebook accounts and verified business managers, along with a resource kit for proper account setup [11][13] - The platform offers various packages with daily spending limits ranging from $50 to $250, and options for unlimited spending capacity [17][21] - DFUmedia ensures customer satisfaction through personalized guidance, live chat support, and a money-back guarantee for unsatisfactory accounts [19][23][24] Group 2: Comparison with Other Vendors - PlayerUp is noted as a marketplace for Facebook ad accounts but lacks direct customer support and has higher prices, making it less suitable for beginners [27][29][30] - AccMaster offers a user-friendly purchasing process but does not provide guidance on account setup, which can be frustrating for new users [31][33] - DFUmedia stands out due to its commitment to quality, transparency, and customer support, which is often lacking in other vendors [15][24][40] Group 3: Benefits of Aged Facebook Accounts - Aged Facebook ad accounts are less likely to trigger Facebook's review systems, reducing the risk of bans and payment holds [42] - Verified business managers and high-quality accounts facilitate the management of multiple ad accounts, essential for business expansion [42] - Reliable accounts with clean histories contribute to smoother campaign operations, minimizing disruptions caused by compliance issues [42]

Outbrain (OB) Q1 2025 Earnings Call May 09, 2025 08:30 AM ET Company Participants None - ExecutiveDavid Kostman - CEOJason Kiviat - CFOYgal Arounian - Director - Internet Equity ResearchAndrew Boone - Managing DirectorJames Heaney - SVP - Equity Research Conference Call Participants Laura Martin - Senior AnalystZach Cummins - Senior Research Analyst Operator Good day. Welcome to Outbrain Incorporated's First Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen ...

Financial Data and Key Metrics Changes - Revenue in Q1 was approximately $286 million, reflecting a 32% year-over-year increase, primarily driven by the acquisition of Teads [16] - X TAC gross profit for the quarter was $103.1 million, an increase of 98% year-over-year, indicating that profit growth is outpacing revenue growth [18] - Adjusted EBITDA for Q1 was $10.7 million, representing a greater than 7x increase year-over-year [20] Business Line Data and Key Metrics Changes - The company closed Q1 with more than 50 Joint Business Partnerships (JBTs), including commitments from major brands like Ferrero and Philip Morris International [9] - CTV revenue grew over 100% year-over-year, now representing approximately 5% of total ad spend [12] - The marketing campaign objectives are balanced, with approximately two-thirds of spend on performance campaigns and one-third on branding campaigns [8] Market Data and Key Metrics Changes - The U.S. business, which represents around 30% of total revenue, showed improvement in trends during Q1 [17] - The company has access to over 300 million TV screens globally, with significant partnerships enhancing its CTV offerings [12] Company Strategy and Development Direction - The vision for the new Teads is to create an open Internet advertising platform that connects fragmented channels to drive real business outcomes [5] - The company is focused on integration, efficiency, and execution post-merger, aiming for $60 million in annualized cost savings by 2026 [13] - The strategy includes leveraging proprietary data and AI to optimize advertising outcomes across various platforms [6][14] Management's Comments on Operating Environment and Future Outlook - Management noted that while there is a shortening of planning and buying cycles, they have not seen a meaningful impact on results due to macroeconomic conditions [27] - The company expects to achieve adjusted EBITDA of at least $180 million for the full year 2025, despite uncertainties in the market [24] - Management expressed confidence in capturing market share as advertisers scrutinize their ad spend, aligning with the company's mission [22] Other Important Information - The company recognized $16 million in acquisition-related costs and $7 million in restructuring charges during the quarter [19] - Free cash flow was a use of cash of approximately $7 million, impacted by acquisition-related costs [21] Q&A Session Summary Question: Can you expand on the macro environment and how advertisers are focusing on brand versus performance? - Management observed improvements in demand levels and a positive trend in the legacy Teads business, with performance holding up better than branding [27][28] Question: How much of the JBT wins are a result of the new combination versus existing pipeline? - The growth in JBTs is attributed to the combined value proposition of performance and branding, with significant excitement from clients [35][36] Question: Can you discuss the trends in the legacy Teads business and the opportunity with larger clients? - Management noted month-over-month improvements in the legacy Teads business since the merger, with a focus on gaining more share of wallet from both large and small clients [42][44] Question: What is the path from meetings to revenue generation? - Management indicated that sales are expected to ramp up exponentially in the second half of the year, with some sales already occurring [49] Question: How does the Google lawsuit ruling impact Teads? - The ruling is seen as a positive for the overall ecosystem, with Teads benefiting from its exclusive supply relationships [60] Question: What is the strategy for expanding the Moments vertical video product? - The strategy includes leveraging vertical video as a significant growth driver, with plans to invest in various vertical video opportunities [63]

Core Insights - Outbrain Inc. reported strong financial results for Q1 2025, achieving guidance on Ex-TAC gross profit and Adjusted EBITDA, with CTV revenues growing over 100% year-over-year on a pro forma basis [1][2] - The company completed the acquisition of Teads for approximately $900 million, which is expected to yield significant synergies and integration benefits [4][21] - Full-year guidance for 2025 remains positive, with expectations for continued growth and strategic partnerships [6][7] Financial Performance - Revenue for Q1 2025 was $286.4 million, a 32% increase from $217.0 million in Q1 2024 [2][5] - Gross profit reached $82.7 million, up 99% from $41.6 million in the prior year, with a gross margin increase to 28.9% [2][5] - Ex-TAC gross profit was $103.1 million, a 98% increase year-over-year, with an Ex-TAC gross margin of 36.0% [2][5] - The net loss for the quarter was $54.8 million, compared to a net loss of $5.0 million in Q1 2024, influenced by acquisition-related costs and restructuring charges [2][5] Business Highlights - The integration of Teads is on track, with expected synergies of $65 million to $75 million by 2026, including $40 million in cost synergies for 2025 [4][6] - The company has initiated cross-selling of legacy Outbrain solutions to Teads' enterprise brand customers, with several campaigns already sold [4] - New strategic partnerships have been established with major brands such as Ferrero and Philip Morris International [4] Guidance and Future Outlook - For Q2 2025, the company expects revenue of $286.4 million, with continued strong adoption of its Moments vertical video offering [6] - Full-year guidance for 2025 includes Ex-TAC gross profit expectations of $141 million to $150 million and Adjusted EBITDA of $26 million to $34 million [6][7] - The company is focused on leveraging predictive AI technology to enhance its advertising platform and drive business outcomes [21]

Core Insights - Pinterest's shares increased by 10% in extended trading following the release of first-quarter earnings and better-than-expected guidance for the second quarter [1] - The company anticipates second-quarter sales between $960 million and $980 million, surpassing analysts' expectations of $966 million [1] Financial Performance - Pinterest reported 570 million monthly active users in Q1, exceeding Wall Street's estimate of 565 million [2] - Q1 sales from the U.S. and Canada were $663 million, slightly below the expected $664 million, while Europe revenue was $147 million, surpassing projections of $141 million [2] - The company achieved $172 million in adjusted EBITDA for Q1, exceeding the $164 million expected by analysts, with an EBITDA margin of 20% compared to the anticipated 19.4% [3] - Global average revenue per user for Q1 was $1.52, aligning with analysts' estimates [3] Strategic Outlook - CEO Bill Ready emphasized the resilience of Pinterest amid evolving macroeconomic conditions and the digital advertising landscape, asserting strong business fundamentals and healthy growth [4] - The company is navigating challenges in the online advertising sector, particularly in light of broader economic uncertainties and trade disputes [4]