NEW YORK, June 3, 2020 /PRNewswire/ -- Criteo S.A. (NASDAQ:
CRTO), the global technology company powering the world's marketers
with trusted and impactful advertising, announced an interim update
on its financial performance for the second quarter of 2020, as of
May 29, 2020.
In its Q2 2020 guidance provided on April
29, 2020, the Company had assumed a continued decline of
revenues through the month of May due to COVID-19. As of
May 29, 2020, however, a continued
decline of the Company's revenues for the month of May compared to
April had not materialized as anticipated. Therefore, as of
May 29, 2020, overall revenue trends
have been better than were expected at the time of the Company's
April 29, 2020 guidance for the
second quarter 2020.
Additionally, as of May 29, 2020,
the Company believes it is on track to achieve its cost savings
targets as anticipated in the Company's April 29, 2020 guidance for the second quarter
2020.
The Company is not otherwise providing an update with regard to
its second quarter 2020 financial performance at this time. The
Company plans to report its full second quarter 2020 results in
late July 2020.
Forward-Looking Statements Disclosure
This press release contains forward-looking statements,
including with respect to our financial results, our expectations
regarding future cost savings and other statements that are not
historical facts and involve risks and uncertainties that could
cause actual results to differ materially. Factors that might cause
or contribute to such differences include, but are not limited to:
failure related to our technology and our ability to innovate and
respond to changes in technology, uncertainty regarding the scope
and impact of the recent outbreak of COVID-19 on our employees,
operations, revenue and cash flows, uncertainty regarding our
ability to access a consistent supply of internet display
advertising inventory and expand access to such inventory,
investments in new business opportunities and the timing of these
investments, whether the projected benefits of acquisitions
materialize as expected, uncertainty regarding international growth
and expansion, the impact of competition, uncertainty regarding
legislative, regulatory or self-regulatory developments regarding
data privacy matters and the impact of efforts by other
participants in our industry to comply therewith, the impact of
consumer resistance to the collection and sharing of data, our
ability to access data through third parties, failure to enhance
our brand cost-effectively, recent growth rates not being
indicative of future growth, our ability to manage growth,
potential fluctuations in operating results, our ability to grow
our base of clients, and the financial impact of maximizing Revenue
ex-TAC, as well as risks related to future opportunities and plans,
including the uncertainty of expected future financial performance
and results and those risks detailed from time-to-time under the
caption "Risk Factors" and elsewhere in the Company's SEC filings
and reports, including the Company's Annual Report on Form 10-K
filed with the SEC on March 2, 2020, and in subsequent
Quarterly Reports on Form 10-Q as well as future filings and
reports by the Company. Importantly, at this time, the COVID-19
pandemic is having a significant impact on Criteo's business,
financial condition, cash flow and results of operations. There are
significant uncertainties about the duration and the extent of the
impact of the virus. Except as required by law, the Company
undertakes no duty or obligation to update any forward-looking
statements contained in this release as a result of new
information, future events, changes in expectations or
otherwise.
About Criteo
Criteo (NASDAQ: CRTO) is the global technology company powering
the world's marketers with trusted and impactful advertising. 2,700
Criteo team members partner with over 20,000 customers and
thousands of publishers around the globe to deliver effective
advertising across all channels, by applying advanced machine
learning to unparalleled data sets. Criteo empowers companies of
all sizes with the technology they need to better know and serve
their customers. For more information, please visit
www.criteo.com.
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SOURCE Criteo S.A.