CRTO - Criteo's Q4 beats upside sales forecast shake off pandemic strain

Criteo (CRTO) ADRs gain 5.7% pre-market as the transition into a commerce media platform pays off with fourth quarter beats and upside guidance.In Q4, Criteo reported a 5% Y/Y revenue decline and $0.98 EPS, which topped consensus estimates by $0.22.Total client adds were 900, bringing the total to 21,460, up 6% on the year and the highest level since Q3 2017.New Solutions sales grew to 24% of total ex-TAC revenue, up 38% on the year. Retail Media increased 41%.Adjusted EBITDA dropped 6% to $103M due to the "still meaningful" pandemic pressures, partially offset by cost-cutting efforts.FCF totaled $22M in the quarter."I am proud of how much we achieved in 2020. We made multiple structural changes across the company that we believe have set Criteo up for sustainable profitable growth and led to significant over-performance of guidance during Q4," says CEO Megan Clarken.For Q1, Criteo forecasts revenue ex-TAC of around $200M, down 4% Y/Y but above the

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Criteo's Q4 beats, upside sales forecast shake off pandemic strain