Why Taboola Stock Skyrocketed Today
Shares of advertising technology (adtech) company Taboola (NASDAQ: TBLA) skyrocketed on Wednesday after reporting financial results for the second quarter of 2022. Management enthusiastically declared that Q2 results "beat...across all metrics." And that's why Taboola stock was up 22% as of noon ET.
Taboola is an adtech company. If you're a news publisher, you might allow Taboola to place its branded ads at the end of relevant articles.
After its first-quarter report, Taboola's management guided for Q2 revenue of $325 million to $345 million. In Q2, the company generated revenue of $343 million, which was within guidance (even though management said everything beat guidance). But this was more than what analysts were expecting.
Source Fool.com
