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Tremor International’s Q2 Earnings Review

Tremor International Ltd (NASDAQ:TRMR) reported its Q2 results, with EPS of $0.16 coming in worse than the Street estimate of $0.36. Revenue was $75.8 million, missing the Street estimate of $77.03 million.
The multifaceted macro headwinds led to broad-based softness in spending but particularly from mobile and display. While revenue was underwhelming, CTV continues to see solid growth with spend on the platform up 30%. Analysts at RBC Capital continue to think there are better days ahead for the company with lowered guidance taking a realistic macro view with some conservatism around company-specific tailwinds.
The analysts maintained their outperform rating and lower their price target to $17 from $20.

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