Criteo S.A. (CRTO) Tops Q1 EPS by 7c, Q2 Revenue Guidance Misses

Criteo S.A. (NASDAQ: CRTO) reported Q1 EPS of $0.52, $0.07 better than the analyst estimate of $0.45. Revenue for the quarter came in at $206 million versus the consensus estimate of $204.89 million.

GUIDANCE:

Criteo S.A. sees Q2 2020 revenue of $140-147 million, versus the consensus of $167.8 million.

• The following forward-looking statements reflect Criteo's expectations as of April 29, 2020.
• Based on our current forecasting framework for the impact of COVID-19 on our business, we currently assume that the second quarter 2020 will be the through quarter in our central COVID-19 scenario.
• Second quarter 2020 guidance:
• We expect Revenue ex-TAC to be between $140 million and $147 million, implying constant-currency decline of approximately 32% to 35%.
• Due to the expected significant impact of COVID-19 on our business in the second quarter, we expect Adjusted EBITDA to be between $0 million and $7 million.
• We withdrew our financial guidance for fiscal year 2020 on April 1, 2020. Given how fluid the global situation still is around the consequences of the COVID-19 outbreak and the many unknowns at this point, we believe the Company is currently not yet in a position to reliably quantify the impact of COVID-19 on its financial results beyond the second quarter 2020. We will therefore not provide guidance for Revenue ex-TAC and Adjusted EBITDA for fiscal year 2020 until further notice.
• The above guidance for the second quarter ending June 30, 2020, assumes the following exchange rates for the main currencies impacting our business: a U.S. dollar-euro rate of 0.902, a U.S. dollar-Japanese Yen rate of 109.7, a U.S. dollar-British pound rate of 0.803, a U.S. dollar-Korean Won rate of 1,224.5 and a U.S. dollar-Brazilian real rate of 5.05.
• The above guidance assumes no acquisitions are completed during the second quarter ending June 30, 2020.

For earnings history and earnings-related data on Criteo S.A. (CRTO) click here.

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