What’s New: In this first take following tonight’s results, we touch on: 1. Solid 3Q24 financials, but 4Q24 revenue guidance a little light 2. Latest on Performance+: can it drive re-acceleration next year? 3. CAPI leads the way on lower funnel tools 4. No updates on 3P partnerships, but PINS ready to add more of them 5. Weak brand spend still driven by food & beverage
Ahead of Thursday PM’s earnings report, we review what to listen for on the earnings call, our top questions for management, potential positive and negative catalysts for PINS, and key debates, controversies and popular conversation topics of late, specifically: 1. New capabilities for Performance+ and latest on CAPI, direct links, etc. 2. Where does the 3P partnership strategy go from here? 3. China impact fading, but still more impactful than peers
We had the opportunity to catch up with over a dozen industry contacts and check in on close to 20 panels over the past four days of NYC Advertising Week. In the note, we walk through the top takeaways from our conversations including 2H24 advertising trends, the latest in CTV ad market pricing/supply trends, and views on the potential outcome of the DOJ versus GOOGL Ad Tech case. We also have specific stock takeaways for GOOGL, META, AMZN, TTD, SNAP, PINS, and RDDT.
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