PUBM - Key ad-tech reports likely to impress after big tech shows market's holding up - Macquarie

Earnings from big tech and ad agency names last week are setting up well for the advertising technology space, Macquarie says as the companies get ready to report their fourth-quarter earnings. Last week was a heavy reporting week for tech giants, with reports from Apple (NASDAQ:AAPL), Google (GOOG, GOOGL), Snap (NYSE:SNAP), Amazon.com (NASDAQ:AMZN) and Meta Platforms (and Meta (NASDAQ:FB) is the outlier there after a four-day slide). Ad giant Publicis Groupe also reported and beat revenue expectations, the firm notes. And while many investors are looking at Meta as a dim harbinger for ads and ad-tech, the social-media giant looks like it's facing company-specific problems with Apple privacy changes and the IDFA ad identifier, Macquarie's Tim Nollen says. That means the overall ad market backdrop aside from Meta/Facebook is "solid." Ad growth was 32-42% at Google, Amazon and Snap, and Unity's (NYSE:U) ad monetization business grew 45%, the firm notes.

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Key ad-tech reports likely to impress after big tech shows market's holding up - Macquarie