In 1Q FY23/12, CARTA Holdings posted a 23.3% YoY increase in transaction volume for programmatic TV commercial service TELECY, and a 2.8-fold increase in gross sales in the retail domain, showing steady performance in the mass retail domain, which the company has positioned as a priority area in its medium-term management plan.
On the other hand, the weak macro environment continued to weigh on double-digit sales declines in reservation-based ads, resulting in a 7.7% YoY drop in sales and a 59.3% drop in operating profit overall.
YoY comparisons will ease off from the next quarter, but with 2Q usually being a slow period for advertising and the lack of activity from advertisers in the new fiscal year from April onward, earnings are expected to recovery smoothly rather than sharply.
Begin exploring Smartkarma's AI-augmented investing intelligence platform with a complimentary Preview Pass to:
Unlock research summaries
Follow top, independent analysts
Receive personalised alerts
Access Analytics, Events and more
Join 55,000+ investors, including top global asset managers overseeing $13+ trillion.