CRTO - Why Criteo Stock Is Soaring Today
2024-02-07 15:50:58 ET
Shares of Criteo (NASDAQ: CRTO) rose as much as 25.4% on Thursday morning before falling back to a still-impressive 17.7% gain as of 2:30 p.m. ET. The Paris-based digital advertising expert reported strong fourth-quarter results on Wednesday evening,
Criteo's revenue (after deducting traffic acquisition costs, or ex-TAC) rose 12% year over year to $316 million, while unadjusted earnings more than quadrupled from $0.25 to $1.02 per diluted share. Adjusted bottom-line profits jumped 81%, landing at $1.52 per diluted share.
Your average analyst would have settled for earnings near $1.23 per share on revenue in the vicinity of $300 million.
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Why Criteo Stock Is Soaring Today