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Momentive (NASDAQ: MNTV) has appointed Rich Sullivan as its new Chief Financial Officer, effective immediately. Sullivan brings over twenty years of finance leadership experience from notable tech and media companies, including Twitter and DreamWorks Animation. He aims to enhance the company's financial strategy and operational efficiency. Momentive's CEO, Zander Lurie, and Board Chair, David Ebersman, express confidence in Sullivan's ability to drive stockholder value and improve operating margins while expanding the customer base.
Recent SurveyMonkey research reveals that 51% of U.S. shoppers plan to reduce holiday spending this year. Major concerns include rising costs of essentials like food (64%) and energy (49%). Inflation worries loom large, with 68% of Americans expressing significant concern. Notably, 24% of parents with kids under 18 anticipate going into debt, primarily for clothing and toys. Additionally, 66% of U.S. adults worry about affording gifts. This year's holiday shopping is projected to be affected significantly due to inflation and supply chain issues.
Momentive has released new research revealing that 30% of Brits plan to watch Season 5 of The Crown on Netflix, equating to roughly 13 million viewers. Despite this interest, only 5% believe the show accurately depicts royal life. Notably, 43% feel Netflix should have delayed the season in light of Queen Elizabeth II's passing. King Charles III enjoys a 73% favorability rating, while Princess Kate leads with 84%. The survey indicates a generational divide in royal sentiment, with younger adults more likely to favor abolition of the monarchy and support for Harry and Meghan's return to the UK.
Momentive (NASDAQ: MNTV) reported Q3 2022 results with total revenue of $121.4 million, reflecting a 6% year-over-year growth. The company achieved a non-GAAP operating margin of 7.6%, exceeding previous guidance, and expects a margin of approximately 15% in Q4. Sales-assisted revenue increased by 24%, while self-serve revenue decreased by 3%. The company anticipates Q4 revenue between $120 million and $122 million and a full-year revenue of $479 million to $481 million.
SurveyMonkey research reveals UK consumers are concerned about holiday shopping amidst rising costs. 77% of lower-income shoppers fear they won't get desired gifts, with 14% planning to incur debt for purchases. Parents show higher vulnerability, as 20% expect to go into debt. 63% of consumers plan to cut spending this year, with inflation impacting shopping behavior. The use of Buy Now Pay Later services has doubled, with 14% of consumers likely to use this option for festive spending.
Momentive (NASDAQ: MNTV) will report its third quarter financial results for the period ending September 30, 2022, on November 3, 2022, after market close. A conference call and webcast will be held at 2 p.m. PT (5 p.m. ET) to discuss business outcomes and financial details. Interested parties can join the live call at (844) 200-6205 or via a webcast available at investor.momentive.ai. A replay will be accessible until November 10, 2022. This report is pivotal for investors tracking Momentive's financial performance.
Momentive (NASDAQ: MNTV) announced significant enhancements to its Insights offering, launching AI-powered tools to streamline market research processes. Key updates include AI-generated targeting recommendations for niche audiences, the ability to survey multiple markets simultaneously, and access to industry benchmarks for performance comparison. These improvements are designed to help customers make informed decisions quickly, adapting to rapidly changing business environments. The new solutions aim to enhance product experience and broaden audience reach.
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