Criteo beats by $0.28, beats on revs; guides Q1 revs above consensus; guides FY18 rev above estiamtes (23.39)
- Reports Q4 (Dec) earnings of $1.21 per share, excluding non-recurring items, $0.28 better than the Capital IQ Consensus of $0.93; revenues rose 23.1% year/year to $277 mln vs the $262.02 mln Capital IQ Consensus.
- This increase was primarily driven by continued innovation, improved access to publisher inventory and new clients across regions and products. Revenue ex-TAC margin as a percentage of revenue was 41%, in line with expectations and the prior year. In the Americas, Revenue ex-TAC grew 22%, or 22% at constant currency, to $121 million and represented 44% of total Revenue ex-TAC. In EMEA, Revenue ex-TAC grew 24%, or 16% at constant currency, to $100 million and represented 36% of total Revenue ex-TAC. In Asia-Pacific, Revenue ex-TAC grew 23%, or 25% at constant currency, to $55 million and represented 20% of total Revenue ex-TAC.
- Co issues upside guidance for Q1, sees Q1 revs of $230-235 mln vs. $204.55 mln Capital IQ Consensus Estimate. Adjusted EBITDA to be between $60 million and $65 million.
- Fiscal Year 2018 Guidance: We expect Revenue ex-TAC growth for fiscal year 2018 to be between 3% and 8% at constant currency (consensus -3.5% including FX). We expect Adjusted EBITDA margin for fiscal 2018 to between 28% and 30% of Revenue ex-TAC.