Tremor International Ltd (TRMR) Stock

After Friday's strong jobs report, traders are betting the first interest-rate cut will come later than June.

Tremor International Ltd (NASDAQ:TRMR ) Q3 2023 Earnings Conference Call November 22, 2023 9:00 AM ET Company Participants Billy Eckert - Vice President, Investor Relations Ofer Druker - Chief Executive Officer Sagi Niri - Chief Financial Officer Conference Call Participants Matt Swanson - RBC Capital Markets Laura Martin – Needham Andrew Marok - Raymond James Andrew Boone - JMP Securities Eric Martinuzzi - Lake Street Mark Kelley - Stifel Operator Welcome to Tremor International's Conference Call for the Three and Nine months Ended September 30th, 2023. At this time, participants are in a listen-only mode with a question-and-answer session to follow at the end of the presentation.

Tremor International Ltd reported Q2 2023 financial results below expectations. The company operates an online advertising system for both the buy side and sell side of the market. Due to a drop in forward revenue guidance, challenges in advertising spending, and continued operating losses, I remain Neutral [Hold] on Tremor International Ltd in the near term.

Tremor International's U.S.-listed shares plunged by 30% as the end-to-end technology advertising platform provider slashed its profit and sales guidance for 2023. It now expects full-year adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) in the range of $85 to $90 million, down from its prior guidance range of $140 to $145 million.

The devil is obviously in the detail of a seemingly bullish market update from Temor International Ltd, the video advertising group. According to brokers, the first-quarter deep dive showed the business was actually performing marginally ahead of forecasts despite the share price indicating the opposite.