News Summary

• The digital advertising market continues to grow, but it has not translated into an easy earnings season for publicly traded ad tech companies.
• AppLovin reported 53% year-over-year revenue growth and promptly lost almost one-fifth of its market value after its August 5 report.
• Meanwhile, The Trade Desk grew just 3% and fell 22% after its Q2 disclosure.
• Elsewhere, Criteo’s AI narrative, such as its tie-up with OpenAI, seemed to run out of steam, as an 11% revenue decline led to a 24% stock price drop after its earnings report.