=Criteo (CRTO) reported earnings on Wed 30 Oct 19 (b/o)

Criteo beats by $0.04, reports revs in-line; guides Q4 revs below consensus; hires Megan Clarken as CEO (from Nielsen)

Reports Q3 (Sep) adj. earnings of $0.54 per share, $0.04 better than the S&P Capital IQ Consensus of $0.50; revenues fell 0.9% year/year to $221 mln vs the $221.76 mln S&P Capital IQ Consensus. Adjusted EBITDA declined 8% year-over-year, or 3% at constant currency, to $64 million vs. $57-61 mln guidance (Q3 2018: $70 million), primarily driven by the Revenue ex-TAC performance over the period.

Co issues downside guidance for Q4, sees Q4 revs of $255-261 mln vs. $276.25 mln S&P Capital IQ Consensus. Adjusted EBITDA to be between $99 million and $105 million. With a more moderate outlook for Q4, we now expect to achieve the low end of our Revenue ex-TAC guidance for fiscal year 2019 as communicated on July 30, 2019. As a result, we now expect ~flat Revenue ex-TAC growth at constant currency in fiscal year 2019, reaffirms EBITDA margin.

Co announced the appointment of Megan Clarken as Chief Executive Officer, effective November 25, 2019. Megan Clarken spent fifteen years in various positions at Nielsen Holdings plc, and was recently Chief Commercial Officer of Nielsen Global Media. Criteo's founder JB Rudelle remains committed as Chairman of the Board of directors