The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how Magnite (NASDAQ: MGNI) and the rest of the advertising & marketing services stocks fared in Q2.

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 Q2. As a group, revenues beat analysts’ consensus estimates by 1.7% while next quarter’s revenue guidance was in line.

Thankfully, share prices of the companies have been resilient as they are up 8.2% on average since the latest earnings results.

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 $192.8 million, up 11.2% year on year.

“We significantly beat consensus expectations on both the top and bottom line in the second quarter, driven by outperformance in CTV—which grew 36% year-over-year—and a return to growth in DV+. Our CTV momentum continues to be broad-based across leading publisher partners and anchored by the strategic differentiation of SpringServe. On the bottom line, we delivered 30% Adjusted EBITDA growth with a 37% margin. Given this strong execution and ongoing shift toward programmatic streaming, we are also raising both our full-year top-line and margin expectations. Furthermore, we are pleased with our agentic product launches and partner support, and view these as a great future tailwind. We are uniquely positioned between supply and demand, and with our agentic offerings we believe we will benefit from serving as vital infrastructure for the future of digital advertising,” said Michael G. Barrett, CEO of Magnite.

Interestingly, the stock is up 14.9% since reporting and currently trades at $23.75.

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

Best Q2: 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 $88.91 million, up 3.3% year on year, outperforming analysts’ expectations by 4.7%. The business had an incredible quarter with a beat of analysts’ EPS estimates and revenue guidance for next quarter exceeding analysts’ expectations.

Ibotta pulled off the biggest analyst estimate beat of the whole group. The market seems happy with the results as the stock is up 71.5% since reporting. It currently trades at $42.16.

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

Weakest Q2: Taboola (NASDAQ: TBLA)

Often appearing as those "You May Also Like" or "Recommended For You" boxes at the bottom of news articles, Taboola (NASDAQ: TBLA) operates a digital platform that recommends personalized content to users across publisher websites, helping both publishers monetize their sites and advertisers reach target audiences.

Taboola reported revenues of $476.8 million, up 2.4% year on year, falling short of analysts’ expectations by 4.5%. It was a disappointing quarter as it posted revenue guidance for next quarter missing analysts’ expectations significantly.

Taboola delivered the weakest performance against analyst estimates, weakest guidance update, and slowest revenue growth among its peers. As expected, the stock is down 26% since the results and currently trades at $3.92.

Read our full analysis of Taboola’s results here.

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 $373.9 million, up 42.7% year on year. This number topped analysts’ expectations by 4%. Overall, it was a stunning quarter as it also put up revenue guidance for next quarter exceeding analysts’ expectations and a beat of analysts’ EPS estimates.

QuinStreet achieved the highest guidance raise of the whole group. The stock is up 21.3% since reporting and currently trades at $18.46.

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

MediaAlpha (NYSE: MAX)

Powering nearly 10 million consumer referrals each month in the insurance marketplace, MediaAlpha (NYSE: MAX) operates a technology platform that connects insurance carriers with high-intent consumers shopping for property, casualty, health, and life insurance products.

MediaAlpha reported revenues of $316.9 million, up 25.9% year on year. This result beat analysts’ expectations by 4.2%. Aside from that, it was a satisfactory quarter as it also recorded revenue guidance for next quarter beating analysts’ expectations but a significant miss of analysts’ EPS estimates.

The stock is down 16.1% since reporting and currently trades at $11.58.

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

Market Update

Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.

Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.

By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.

Want to invest in winners with rock-solid fundamentals? Check out our Hidden Gem Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.