- Criteo SA CRTO reported third-quarter FY21 revenue ex-TAC growth of 13% Y/Y to $210.96 million, beating the consensus of $205 million.
- Revenues from Marketing Solutions rose 8% Y/Y to $182.1 million, and Retail Media grew 65% Y/Y to $28.8 million.
- The media spend increased 23% Y/Y. New solutions grew 66% Y/Y at constant currency.
- Criteo added over 400 net new clients and closed Q3 with 22,000 clients. Same-client revenue increased 5% Y/Y, and same-client revenue ex-TAC increased 9% Y/Y at constant currency.
- Margins: Adjusted EBITDA margin expanded 500 bps to 32%, driven by the Revenue ex-TAC performance over the period and effective cost management balanced with growth investments.
- Non-GAAP EPS of $0.64 beat the consensus of $0.37. Criteo generated $51 million in operating cash flow and held $554 million in cash and equivalents.
- "We achieved yet another strong quarter of double-digit growth, driven by the acceleration of our new solutions and healthy performance in retargeting," CEO Megan Clarken said. "As a global powerhouse in commerce media, we are focused on delivering the best performing commerce audiences at scale for our large and growing base of 22,000 marketer and brand customers across the open Internet."
- Outlook: Criteo sees Q4 revenue ex-TAC of $271 million - $274 million.
- Price action: CRTO shares traded higher by 23.4% at $39.65 on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in