Shares of Taboola.com Ltd (TBLA) plummeted by 5.09% on Wednesday morning, following the company's third-quarter 2024 earnings release. Despite beating revenue estimates, the company reported a net loss and slower revenue growth compared to the previous year.
In the Q3 2024 earnings report, Taboola posted a net loss of $0.02 per share, missing analysts' expectations of a $0.02 profit. While revenues of $433.01 million surpassed the consensus estimate, the growth rate decelerated to 20% year-over-year, down from the previous quarter's growth rate.
The company reiterated its full-year 2024 guidance, projecting revenues of $1.75 billion (up 22% year-over-year), ex-TAC gross profit of $667 million (up 25%), and adjusted EBITDA of over $200 million (doubling year-over-year). However, investors appeared to be disappointed by the lack of an upward revision to the guidance, despite the Q3 beat.
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