Goldman’s Anthony Noto offers a small respite from the week’s gloomy recession talk: He says that Google (GOOG) is still going great guns. So far in Q4, Noto says “yoy growth appears to be tracking above our ~43% estimate at 50%-plus. Longer term, we see opportunities in display advertising via gadget, video, and banner formats.”
So if Google is booming, everyone else should be fine as well, right? No. While panelists Noto quizzed during an online advertising conference call yesterday were generally bullish about web advertising (the industry that all of the panelists work in), Noto says at least two big players look shaky:
• Yahoo (YHOO): The fact that Yahoo does well in the premium ad business could hurt it as the economy slows and advertisers shift toward lower-CPM buys.
• CNET: Facing the same problem as Yahoo, but worse, since it’s even more dependent on high-priced display ads.
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