Criteo's recent earnings report showcased significant improvements in gross profit amid a backdrop of declining revenue and challenges in the digital advertising landscape, particularly affecting targeted ads.
Despite a challenging digital landscape, due to third-party cookie limitations and competition evident from Google's performance, Criteo reported strategic growth in retail media, increasing by 22% compared to the previous year.
Criteo's leadership emphasized the importance of disciplined cost management as they reported a reduction in traffic acquisition costs, noting a move from $224 million the previous year to $193 million this term.
Criteo’s CFO expressed optimism for the upcoming holiday season, anticipating double-digit growth, yet acknowledged potential revenue impact due to the ongoing election cycle, prompting some retailers to delay advertising.
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