Taboola Announces Q2 2024 Financial Results
Intellectia.AI Updated: 2024-08-08
Taboola Announces Q2 2024 Financial Results
NEW YORK, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Taboola (NASDAQ:TBLA), a global leader in powering recommendations for the open web, announced its financial results for the quarter ended June 30, 2024.
Key Financial Metrics
| Metric | Q2 2024 | Q2 2023 | YoY Change |
|---|---|---|---|
| Total Revenue | $328.97 million | $331.21 million | -0.68% |
| Earnings Per Share (EPS) | $0.06 | -$0.08 | N/A |
Interpretation: Taboola's total revenue for Q2 2024 saw a slight decrease of 0.68% year-over-year. However, the company turned around its performance in terms of profitability, achieving an EPS of $0.06 compared to a loss of $0.08 in the same quarter last year.
Revenue Performance by Segment
| Segment | Q2 2024 Revenue | Q2 2023 Revenue | YoY Change |
|---|---|---|---|
| AI & Data Operations | $150 million | $140 million | 7.14% |
| Publisher Partnerships | $178.97 million | $191.21 million | -6.42% |
Interpretation: The AI & Data Operations segment exhibited a robust year-over-year growth of 7.14%, highlighting Taboola's strategic focus on AI and data. However, the Publisher Partnerships segment faced a decline of 6.42% as compared to the last year's second quarter.
Comments from Company Officers
Adam Singolda, CEO of Taboola, commented: "2024 is a transformational year for Taboola. We've achieved impressive results in the first half of the year and are poised to build on this success. Our success is driven by our investment in AI, access to unique data, and focus on driving value to our partners and advertisers."
Forward Guidance
Taboola provided guidance for the Third Quarter and Full Year 2024. However, the company is unable to provide guidance for projected net income (loss) due to the high variability and difficulty of making accurate forecasts. The company's guidance includes Adjusted EBITDA and Non-GAAP Net Income (Loss).
Stock Price Movement
After the event, Taboola's stock experienced a remarkable increase of 16.32%.
Final Thoughts
Overall, Taboola has showcased a strong performance in the first half of 2024, driven by strategic investments in AI and data operations. Despite facing slight setbacks in some segments, the company remains optimistic about its growth prospects and continues to make significant strides in the digital advertising space.
The report has been organized into a more readable format, and unnecessary sections have been removed.
