Criteo: expects acceleration in revenue growth in 2019
(CercleFinance.com) - French online advertising firm Criteo said on Wednesday that it expected to accelerate its revenue growth in 2019, which prompted the shares to rally by up to 20% in Wall Street.
The technology company said it expects revenue excluding traffic acquisition costs, or revenue ex-TAC, to grow between 3% and 6% at constant currency this year.
In comparison, its revenue ex-TAC increased by just 3% in 2018, to 966 million dollars.
Understandably, this weak level of topline growth has affected the group's net income, which decreased 1% year-on-year to 96 million dollars last year.
However, Criteo said that it benefited from a strong Holiday season across the US and Europe.
"Our fourth-quarter results mark an inflection point in our trajectory," commented CFO Benoit Fouilland. "We expect to see positive momentum in 2019," he added.
On another positive note, the number of clients has risen by 7%, ending the 2018 year with close to 19,500 commerce and brand clients.
The New York-listed Criteo shares are currently up 17% at 29.9 dollars.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The technology company said it expects revenue excluding traffic acquisition costs, or revenue ex-TAC, to grow between 3% and 6% at constant currency this year.
In comparison, its revenue ex-TAC increased by just 3% in 2018, to 966 million dollars.
Understandably, this weak level of topline growth has affected the group's net income, which decreased 1% year-on-year to 96 million dollars last year.
However, Criteo said that it benefited from a strong Holiday season across the US and Europe.
"Our fourth-quarter results mark an inflection point in our trajectory," commented CFO Benoit Fouilland. "We expect to see positive momentum in 2019," he added.
On another positive note, the number of clients has risen by 7%, ending the 2018 year with close to 19,500 commerce and brand clients.
The New York-listed Criteo shares are currently up 17% at 29.9 dollars.
Copyright (c) 2019 CercleFinance.com. All rights reserved.