New Street Research - WB 3Q25 Preview: Lowering 2H Estimates

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New Street Research

WB 3Q25 Preview: Lowering 2H Estimates

What’s New: We are lowering our 2H25 topline estimates partly due to continued underperformance in key categories including smartphones and online games. Ad rev growth could also be partly impacted by tougher comps from the Summer Olympics in 3Q.

Analysts:
Jin Yoon

23/10/2025 1 EN

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New Street Research

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WB 3Q25 Preview: Lowering 2H Estimates

Alphabet (Buy, $295 target) How much revenue could Anthropic’s 1M TPUs generate?

Megacable (Buy, TP: MXN75, +36%) Q3 25: Another good quarter

Intel 3Q25: beat despite tight supply;18A yields poor, but 14A momentum builds

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