(News Bulletin 247) – French online advertising specialist Criteo rose on Wall Street on Wednesday following the publication of better-than-expected quarterly results.
Just under an hour after opening, its Nasdaq-listed stock gained 5.75% after jumping more than 9% in early trading.
Criteo announced this morning a first quarter profit above expectations thanks in particular to the arrival of new distributors using its platform, including Rite Aid, ASOS and Sundrug.
The group reported for the first three months of the year a turnover down 13% to 445 million dollars.
In non-GAAP data, that is to say excluding exceptional items, its adjusted Ebitda fell 38% to 39 million dollars, giving earnings per share (EPS) of 46 cents, twice the consensus of 23 cents.
The company also communicated its forecasts for the second quarter, explaining that it is counting on an adjusted Ebitda of between 46 and 50 million dollars for the three months ending at the end of June.
At current levels, the stock is up nearly 18% year-to-date.
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