Why Criteo S.A. Stock Plummeted Today

Shares of Criteo S.A. (NASDAQ: CRTO) were down 26.5% as of 2:00 p.m. EST Thursday after the ad-retargeting specialist tempered expectations for the coming year due to the impact of Apple's (NASDAQ: AAPL) Intelligent Tracking Prevention (ITP) functionality.

More specifically, Criteo notes that in the latest version of Apple's mobile operating system iOS 11.2, the tech behemoth disabled a solution that Criteo and other ad-tech companies use to reach Safari browser users. As such, Criteo says its previous prediction -- provided in early November and calling for a net negative impact from ITP of 9% to 13% to its 2018 revenue excluding traffic acquisition costs (ex-TAC) -- is no longer valid.

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Source: Fool.com