Why Criteo Stock Soared Today
Shares of Criteo (NASDAQ: CRTO) have soared today, up by 16% as of 12:30 p.m. EDT, after the company provided an interim update on its second-quarter results. Things weren't as bad as investors had feared.
The advertising tech company said that the guidance provided at the end of April assumed "a continued decline of revenues through the month of May due to COVID-19." Fortunately, that decline did not materialize, and market conditions have improved meaningfully in May compared to April. "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," Criteo said.
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Source Fool.com
