Why Criteo Stock Slipped 10.6% in October
Shares of Criteo (NASDAQ: CRTO) declined 10.6% in October, according to data from S&P Global Market Intelligence, after the ad-retargeting specialist lowered its full-year outlook and replaced its CEO. After drifting higher for most of last month ahead of its quarterly report, Criteo shares plunged more than 14% on Oct. 30 alone -- the first trading day after its announcement hit the wires.
But that's not to say Criteo's third-quarter results were necessarily bad. Revenue fell 1% year over year (and remained flat at constant currency) to $221 million, which was near the high end of guidance provided in July. And its adjusted net income of $0.54 per share handily beat analysts' consensus for earnings of $0.49 per share.
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Source Fool.com
