Criteo Lifts Full Year Revenue View; Stock Surges

(RTTNews) - Criteo S.A. (CRTO), a performance marketing technology company, Tuesday reported third-quarter net income that increased from the prior year, along with a rise in revenues. The company also lifted its full year revenue forecast, sending the stock higher by over 16 percent in after-markets trading.

Net income climbed to $11.4 million euros or 0.18 euro per share from 2.8 million euros or 0.05 euro per share last year.

Revenues for the quarter rose to 194.4 million euros from 113.8 million euros last year.

Excluding Traffic Acquisition Costs, revenue increased 65.8 percent to 77.6 million euros.

JB Rudelle, Criteo's co-founder and CEO, said, "We delivered another record quarter exceeding our expectations. Performance is the cornerstone of our company and we remain focused on our single goal of generating more sales for our clients."

For the fourth quarter, the company expects revenue excluding Traffic Acquisition Costs to be between 89 million euros and 91 million euros.

For the full year, the company increased its revenue excluding Traffic Acquisition Costs outlook to between 296 million euros and 298 million euros.

CRTO closed down 1.1 percent on Tuesday at $29.55, and climbed 16.1 percent in the extended trade.