Shares of Criteo (NASDAQ: CRTO) soared on Wednesday, boosted by a strong earnings report. The digital advertising expert's stock rose as much as 23.1% in the morning, backing down to a 17.9% gain at the end of the day.

Criteo's adjusted fourth-quarter revenues rose 6% year over year, landing at $334 million. Adjusted earnings jumped 15% higher to $1.75 per diluted share. Your average Wall Street analyst would have settled for earnings near $1.37 per share on revenues in the neighborhood of $332 million.

The company saw especially strong results in the retail media segment, with an inflow of new clients and growing network effects. In other words, Criteo's brand-building tools continued a strong growth trend that started in 2022.

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Source Fool.com