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Investing.com -- Stagwell (NASDAQ:STGW) stock soared 50% after announcing a partnership with Palantir Technologies (NYSE:PLTR) to develop an AI-driven marketing platform aimed at enhancing marketing ROI for enterprise clients.
The new platform combines Palantir’s Foundry software with Code and Theory’s orchestration software and The Marketing Cloud’s proprietary data sources. The solution is designed to help large enterprises analyze millions of records to identify, segment, and better understand audiences before launching campaigns.
According to the announcement, the partnership has already secured early client adoption through Stagwell’s media company Assembly, with plans to roll out the offering more broadly in the coming months.
"This is the holy grail of marketing brought to life," said Mark Penn, Chairman and CEO of Stagwell. "This enables large enterprises to enhance their marketing processes utilizing advanced targeting and AI capabilities so that data can be used and implemented to increase bottom-line results."
The news came alongside Stagwell’s third quarter results, which showed net revenue growth of 6% YoY to $615 million. Excluding advocacy business, net revenue grew 10% YoY, with digital transformation net revenue up 12% and marketing services net revenue increasing 9%.
The company reported net income attributable to common shareholders of $25 million, compared to $3 million in the same quarter last year. Adjusted EBITDA rose 3% to $115 million, while adjusted earnings per share reached $0.24 versus $0.22 in the prior year period.
Stagwell also provided guidance for 2025, projecting total net revenue growth of approximately 8% with adjusted EBITDA between $410 million and $460 million.
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