Clear from the above that you are thinking like a jr buyside analyst and not a seasoned PM. Everyone knows Q2 numbers will be terrible and sellside consensus is way off. That doesn't matter. What matters from here is the shape of the recovery and what rev / EPS looks like in 2021 & beyond. Stop trying to look backward and explain how we got here. Stocks discount what is happening in the future. A more insightful post would be trying to frame the shape of the recovery and how those expectations are discounted differently across the advertising exposed public companies.
Now that both GOOG and FB have reported their earnings, it would be interesting to see an retrospective analysis taking those numbers into account.
Clear from the above that you are thinking like a jr buyside analyst and not a seasoned PM. Everyone knows Q2 numbers will be terrible and sellside consensus is way off. That doesn't matter. What matters from here is the shape of the recovery and what rev / EPS looks like in 2021 & beyond. Stop trying to look backward and explain how we got here. Stocks discount what is happening in the future. A more insightful post would be trying to frame the shape of the recovery and how those expectations are discounted differently across the advertising exposed public companies.
Yeah - I agree with grouchy PM - SS has software losing a few points off growth for ‘20E which is not realistic.
Very least you could have backed into implied recovery based off post-COVID losses for names like TTD that have lost ~20%.
Buy low. FB and GOOG both have tremendously future