CRTO - Why Criteo Shares Are Soaring Today
Shares of Criteo (NASDAQ: CRTO) reported fourth-quarter results on Wednesday evening. The report impressed investors enough to drive Criteo's shares as much as 28.1% higher on Thursday. By 1:45 p.m. EST, the stock had retreated slightly to a 24% gain.
The Paris-based provider of digital ad retargeting services saw fourth-quarter sales after traffic acquisition costs (ex-TAC) fall 5% year over year to $253 million. Adjusted earnings dropped from $1.08 to $0.98 per share. Your average analyst would have settled for ex-TAC sales near $228 million and earnings in the neighborhood of $0.76 per share. Management also set up revenue guidance well ahead of current analyst projections, both for the first quarter and full fiscal year of 2021.
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Why Criteo Shares Are Soaring Today