The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Sarah Simon - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: I had two questions. Sarah, you referred to travel still being down significantly. But I think at least in the U.K., we have a slightly distorted view about
what travel is going on, i.e., not very much. But if you're in Europe, people have been really starting to move around quite a bit. So as you look
through to Q3, how does that trajectory in terms of travel recover? Because I think it's most concentrated in your European segment.
And then the second question was on Retail Media. Does the Publicis' acquisition of CitrusAd change anything for you guys? It's obviously a ringing
endorsement of Retail Media. But I think Publicis was working with you guys anyway. So I'm just interested in your thoughts on that deal and how
that might change anything for you.
Question: Sarah Simon - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: It is interesting to have thought that it lags. You should basically think about it as lagging stuff like normal upper funnel and search activity.
Question: Daniel Salmon - BMO Capital Markets Equity Research - Analyst
: First, for Megan, affiliate marketing is often seen as a pretty old school e-commerce advertising tactic, but it also seems to be getting a little bit of
a renewal with players like Instagram and Shopify in that area. So how does that fit into your view of the competitive landscape for your broader
Commerce Media positioning?
And then for Todd, just as the dust settles after the Chrome delay, can you just speak high level about what you're hearing from your technical
partners from the industry groups you're involved with, maybe mixing a little of what you're hearing from Google itself, but wrap it all up, maybe
like what are the 2 to 3 most important high-level themes you're hearing about why the delay happened and what it means for Google's path
forward?
Question: Daniel Salmon - BMO Capital Markets Equity Research - Analyst
: And just on high level...
Question: Daniel Salmon - BMO Capital Markets Equity Research - Analyst
: Yes.
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