EconNotes

Below are the 3 questions I always ask before adding a stock to my watchlist. Today, I’m sharing my notes for $ZETA and what I learned about the business. 1- What does the company sell? $ZETA offers a cloud‑based marketing software platform and related data services that help companies manage customer information and run marketing activities across channels like email, social media, mobile, and web. At the core is the Zeta Marketing Platform (ZMP), a suite of tools that brings together customer identity data, analytics, and execution so businesses can organize customer profiles, plan campaigns, and send messages across different channels. They also provide access to their proprietary data repository of consumer identities and signals that can be used for targeting and personalization, plus analytics and decision‑making capabilities powered by machine learning 2- Who pays them? $ZETA is paid by businesses, mostly large brands and enterprises. These companies pay subscription fees to access the platform, fees based on how much they use the system, and sometimes larger contract fees for long-term or high-volume campaigns. Samsung, Toyota, and Sprint are listed as enterprise clients that use Zeta’s marketing platform for data‑driven campaigns and customer engagement. From Zeta’s case studies, United Airlines, Kia, and Simon Property Group are mentioned as brands that have run specific marketing efforts with Zeta’s tools. 3- Why would customers choose them instead of others? Customers pick $ZETA because it makes data easier to use and brings marketing actions closer to the data with less technical complexity. This is not a criticism of $ADBE or $CRM, which are also very strong platforms; they just operate differently. Many big platforms like $ADBE or $CRM require more setup, integration work, and technical support to connect data from different systems before marketers can use it. $ZETA, on the other hand, is built from the beginning with AI and designed to unify customer data and run campaigns quickly across email, SMS, ads, and more without needing to stitch together separate tools.

$AMZN Q1 EARNINGS • Revenue $181.5B vs Est. $177.2B • EPS $2.78 vs Est. $1.64 • AWS Sales $37.6B vs Est. $36.7B • Operating Income $23.9B vs Est. $20.8B Q2 Guidance • Revenue $196B vs Est. $189B • Operating Income $22B vs Est. $23B FY26 Guidance • CapEx $200B vs Est. $200B

My predictions for tomorrow’s hyperscaler earnings: • $MSFT: “We are power and compute constrained” • $META: “We are power and compute constrained” • $GOOGL: “We are power and compute constrained” • $AMZN: “We are power and compute constrained”