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Correction re ...Snap also posted a 57 per cent rise in revenues to $1.07bn in the three months to the end of September, falling $3m short of its previous revenue guidance. This should read....falling $30m short of its previous revenue guidance.
Facebook reports earnings on Monday.
Last Thursday The Financial Times reported that it seemed likely that Facebook will report the same Apple related business frictions in that Apples changes mean that advertisers no longer receive real-time granular information on how their Apple ads are performing, instead having to wait 72hrs for aggregate data.
Facebook said last month that it had become “harder to measure [the effectiveness of ad] campaigns on our platform” and estimated it was “under-reporting iOS web conversions by approximately 15 per cent”.
Evan Spiegel, Snap chief executive, said ‘’this has definitely been a frustrating setback for us,” but I think over the long term these privacy changes, and protecting privacy for users of iOS?.?.?.?is something that we fully support.” He added: “We’ve certainly seen some early signs of success but it’s going to take a little while?.?The underlying performance of the advertising platform is still very strong.” Snap also posted a 57 per cent rise in revenues to $1.07bn in the three months to the end of September, falling $3m short of its previous revenue guidance.
Although Spiegel also cited broader macroeconomic challenges around the coronavirus pandemic that affected the results, including advertisers’ supply chain issues and labour shortages, I think the main issues are Apple related. We will see come Tuesday.
gdog, re your...I also upped my stake by a fair bit in TRMR etc.
But Tremor also guided flat for 3Q, didn't they? There appears to be a growing trend for management to guide either lowish or flat while caveating it with the word 'conservative'. I think they have become nervy, even paranoid about setting targets and failing to meet them... failure means the pig gets slaughtered.
In the last quarter, mid-tier adtech produced some really eye-catching ‘percentage’ increases in revenue, ebitda and earnings, but that came of a rather low base in the first place. We can’t expect the same again….that bar/base, is higher now. My view has been that the market needs to see another couple of good quarters for Tremor and indeed the sector as a whole, to settle the nerves but, as it is generally the case when investing in stock, if you are waiting for certainty…. you have probably waited too long.
BTW, Radium, about being "bold". They've a pretty good idea what Vidazoo revenue is for 2021, which they stated as ca 45 million. $55 million would only be a growth rate of 22.22%, and this is all about video/CTV, which is growing by leaps and bounds.
"Bold"? I placed large bets they're being conservative. (Large bets for me, it's all relative.)
I also upped my stake by a fair bit in TRMR ADRs this past two or so weeks. I couldn't resist buying numerous (numerous being 14) tranches in the mid to upper $18s.
Ha...nit picky...I meant 2022 guidance was raised by $55 million below.
Radium,
Not to be too nit picky, they raised 2020 guidance by $55 million.
My concern was all about their organic growth from their established biz, which they did not raise at all. They commented the raise was entirely due to Vidazoo. I listened to it two (or three?) times.
Personally, I won't be the least bit surprised if management leaves you believing they're being "short sighted", which would be fine with me. We'll know soon enough, eh?
I think Perion’s revised Revenue and EBITDA guidance for FY2022 is quite exceptional. For FY2021 they’ve already raised Revs and EBITDA by $15million and $2 million respectively but for FY2022 the original guidance they gave for Revenue and EBITDA has been raised by a further $50million and $9million respectively. Vidazoo related or not, that is rather bold. If on Tuesday, Perion’s results and forecast are still in line with their 4th October guidance call, then I think it reasonable to expect one heck of a comeback for connected TV adtech stock immediately thereafter.
As it is only a couple of weeks since this guidance was given, any change now would leave Perion management looking rather short sighted. Can’t see that happening.
Hey Share,
TBH, I was disappointed in the guidance and it gave me concerns, at the time, about the organic growth. Then I hear the SNAP krap, and it can't help but make me wonder. Still, the Apple news is old news, we've addressed it before, so I really should not be concerned. But I am...until I hear the numbers. I've a boatload riding on PERI; I've stuck my neck out a bit, and due to this am really looking forward to early Tuesday AM.
The SORT news, if it's as good as I pray to my Almighty Dollar it is, will mitigate this, and then some.
Hi Gdog - I think the general point of what I was trying to say was that there were no indications of any thing being wrong, no downgrades or warnings, along the lines of Snap.
Totally agree re their guidance always being low. I've heard some analysts taking them to task over it too.
The only increase PERI gave in their forecast during the CC to which ShareNicely referred below was directly due to the addition of Vidazoo. I'll be more than a little disappointed if they do not adjust further upwards due to organic growth with their "legacy" products.
Frankly, I thought their forecast "upgrade" was lame. But these guys are serial sandbaggers...some think to a fault. Everybody is (finally) becoming aware of the fact that they provide very conservative guidance, and some are calling PERI management out on it.
In their defense, PERI management says they do not want to make a forecast only to disappoint if they don't meet or beat their forecast. They always say they're being conservative in their guidance, so it's not as if they're hiding anything.
Perion updated their guidance last on 4th October on announcing the Vidazoo acquisition. They gave guidance for the whole of 2021 and also for the whole of 2022. Both were increased, 2022 substantially so. They stated on the conference call that with the acquisition, and with the increase in scale that it brought them, that they could more accurately forecast their revenue and earnings figures with a greater confidence. They are very confident of continued growth (or at least they were at the beginning of October)
An interesting earnings season ahead.
https://wp-cdn.perion.com/wp-content/uploads/2021/10/07180542/IR-presentation-07102021.pdf (Guidance at slide 31)
Gdog...I guess all the longs here have their fingers crossed for Tuesday. If it turns out that you are happy at the end of that day, rest assured we also will be verry happy.
Her's another pullover from TTD which I guess is, atleast in some measure, is also applicable to Tremor...
SNAP publishes content in one place - their app only, so they can only serve ads in that one place. TTD can deploy ads/tracking across all of their 200+ publishing partners. This hullabaloo really shouldn't be affecting TTD share price much at all, the technology use case is wildly different.
Yep.
Believe me when I tell you I'm looking forward to Tuesday morning (cc starts at 05:30hr my time). Fingers crossed I am happy at the end of the day.
Next Tuesday, before the US markets open, Perion reports. That's when we all get some idea of what is really going on out there.