Online tech media publisher TechTarget (NSDQ: TTGT) pre-announced its Q2 earnings, and lowered its forecast for Q3 on account of weakening macro environment. The formal earnings will be on Aug 13. The company expects Q208 revenue of $29.4 million, compared to consensus expectations of $31 million. Also, the company projects Q208 EBITDA of $7.5 million, compared to consensus estimates of $9 million. Total revenues are expected to increase to $29.4 million, compared to $24.6 million for Q207. According to CEO Greg Strakosch: "We believe that we are continuing to gain market share, however, due to the macroeconomic weakness in the U.S. and its impact on advertising spending, we believe it is prudent to reduce our guidance to reflect the current market conditions." More details here.
By Rafat Ali