The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how advertising & marketing services stocks fared in Q3, starting with Clear Channel Outdoor (NYSE: CCO).

The sector is on the precipice of both disruption and growth as AI, programmatic advertising, and data-driven marketing reshape how things are done. For example, the advent of the Internet broadly and programmatic advertising specifically means that brand building is not a relationship business anymore but instead one based on data and technology, which could hurt traditional ad agencies. On the other hand, the companies in the sector that beef up their tech chops by automating the buying of ad inventory or facilitating omnichannel marketing, for example, stand to benefit. With or without advances in digitization and AI, the sector is still highly levered to the macro, and economic uncertainty may lead to fluctuating ad spend, particularly in cyclical industries.

The 7 advertising & marketing services stocks we track reported a strong Q3. As a group, revenues beat analysts’ consensus estimates by 3.1% while next quarter’s revenue guidance was in line.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 10.3% since the latest earnings results.

Clear Channel Outdoor (NYSE: CCO)

With thousands of digital and traditional displays lighting up America's highways, city streets, and airports, Clear Channel Outdoor (NYSE: CCO) operates billboards, street furniture, and airport displays, connecting advertisers with millions of consumers across the US.

Clear Channel Outdoor reported revenues of $405.6 million, up 8.1% year on year. This print exceeded analysts’ expectations by 0.9%. Despite the top-line beat, it was still a mixed quarter for the company with revenue guidance for next quarter slightly topping analysts’ expectations but a significant miss of analysts’ EPS estimates.

"During the third quarter, we delivered consolidated revenue growth of 8.1%, reflecting strong performance across both our America and Airports segments. This quarter's results provide continued evidence that we are executing on our four-pillar growth strategy outlined at our recent Investor Day," said Scott Wells, Chief Executive Officer of Clear Channel Outdoor Holdings, Inc.

Interestingly, the stock is up 12.8% since reporting and currently trades at $2.04.

Read our full report on Clear Channel Outdoor here, it’s free.

Best Q3: QuinStreet (NASDAQ: QNST)

Founded during the dot-com era in 1999 and specializing in high-intent consumer traffic, QuinStreet (NASDAQ: QNST) operates digital performance marketplaces that connect clients in financial and home services with consumers actively searching for their products.

QuinStreet reported revenues of $287.8 million, up 1.9% year on year, outperforming analysts’ expectations by 4.2%. The business had a stunning quarter with a beat of analysts’ EPS estimates and revenue guidance for next quarter exceeding analysts’ expectations.

QuinStreet achieved the highest full-year guidance raise among its peers. The market seems happy with the results as the stock is up 17.5% since reporting. It currently trades at $13.

Is now the time to buy QuinStreet? Access our full analysis of the earnings results here, it’s free.

Omnicom Group (NYSE: OMC)

With a vast network of creative agencies that helped craft some of the most memorable ad campaigns in history, Omnicom Group (NYSE: OMC) is a strategic holding company that provides advertising, marketing, and communications services to many of the world's largest companies.

Omnicom Group reported revenues of $4.04 billion, up 4% year on year, in line with analysts’ expectations. It was a mixed quarter as it posted a beat of analysts’ EPS estimates but organic revenue in line with analysts’ estimates.

Omnicom Group delivered the weakest performance against analyst estimates in the group. As expected, the stock is down 12.1% since the results and currently trades at $69.16.

Read our full analysis of Omnicom Group’s results here.

Ibotta (NYSE: IBTA)

Originally launched as a way to make grocery shopping more rewarding for budget-conscious consumers, Ibotta (NYSE: IBTA) is a mobile shopping app that allows consumers to earn cash back on everyday purchases by completing tasks and submitting receipts.

Ibotta reported revenues of $83.26 million, down 15.6% year on year. This print surpassed analysts’ expectations by 1.6%. Taking a step back, it was a satisfactory quarter as it also produced a beat of analysts’ EPS estimates but revenue guidance for next quarter missing analysts’ expectations.

Ibotta had the slowest revenue growth among its peers. The stock is down 41.2% since reporting and currently trades at $19.25.

Read our full, actionable report on Ibotta here, it’s free.

Magnite (NASDAQ: MGNI)

Born from the 2020 merger of Rubicon Project and Telaria, Magnite (NASDAQ: MGNI) operates the world's largest independent sell-side advertising platform that automates the buying and selling of digital advertising inventory across all channels and formats.

Magnite reported revenues of $179.5 million, up 10.8% year on year. This result topped analysts’ expectations by 0.9%. Overall, it was a satisfactory quarter as it also logged a narrow beat of analysts’ revenue estimates.

The stock is down 35% since reporting and currently trades at $11.11.

Read our full, actionable report on Magnite here, it’s free.

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