As MoffettNathanson Senior Analyst Michael Nathanson enters earnings season for large cap internet advertising and media names, he sense a “tremendous” level of discomfort.
“There are massive unanswered questions about the direction that the COVOD-19 pandemic will take and how it will impact the underlying economics of the U.S. and the industries we cover,” he laments.
That’s a likely explanation for his latest report on the state of U.S. media and internet companies: It’s as clear as mud, he says.
