CRTO - Criteo tops Q2 estimates raises full-year outlook

Criteo (NASDAQ:CRTO) reports second-quarter results that topped analyst estimates and raised its full-year outlook. Revenue excluding traffic acquisition costs was up 22% year-over-year to $220M, beating consensus by $11.25M. Adjusted earnings of $0.63 per share was $0.16 above consensus. Adjusted EBITDA was up 73% to $67M. Free cash flow decreased 11% to $13M. The company added 700 net new clients and closed the quarter with over 21,300 clients. "We continue to execute on our Commerce Media Platform strategy and are excited to see our vision coming to life," says CEO Megan Clarken. "We feel very good about our solid performance and continued momentum." For the third quarter, Criteo (CRTO) expects revenue ex-TAC of $202-205M, below the $208.75M consensus. The company raises its full-year revenue ex-TAC growth outlook to between 6% and 8% at constant currency. The adjusted EBITDA margin forecast increases to approximately 32% of revenue ex-TAC. Recent news: Earlier

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Criteo tops Q2 estimates, raises full-year outlook