Criteo: share price soars after 'record' quarterly results

(CercleFinance.com) - French online advertising specialist Criteo jumped 18% Wednesday morning on the Nasdaq following the publication of "record" fourth-quarter results.


The group reported a 0.3% increase in sales to $566 million for the last three months of the year, driven by growth in its "retail media" activities, i.e. advertising delivered on the platforms of online retail players.

Its ex-TAC contribution, a particularly closely monitored business indicator, climbed 12% to $316 million in the fourth quarter, representing a 10% increase over the full 2023 financial year.

Criteo also reported fourth-quarter adjusted earnings per share (EPS) of $1.52, well ahead of expectations, and added that it expects ex-TAC contribution for 2024 to grow by around 5% at constant exchange rates.

After spending $125 million on share buy-backs last year, the Group intends to step up its efforts this year by buying back the equivalent of $150 million worth of its own shares.

With today's rise, the stock is now up over 21% since the start of the year.

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