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Criteo's Q4 2024: Dissecting Contradictions in Retail Media Growth and Google's Privacy Shifts

Earnings DecryptWednesday, Feb 5, 2025 12:04 pm ET
3min read
These are the key contradictions discussed in Criteo's latest 2024Q4 earnings call, specifically including: Retail Media growth expectations and strategy, Amazon's Retail Media Service, Google's Privacy Changes, and Google's Cookie Deprecation Timing:

CRTO Total Revenue YoY, P/E(TTM)...


Record Financial Performance and Growth:
- Criteo reported revenue of $1.9 billion for fiscal year 2024, delivering double-digit growth for the third consecutive year, and an expanded adjusted EBITDA margin for the second consecutive year.
- The growth was driven by a significant shift in the top-line mix, with retail media business exceeding $250 million in revenue, and a 31% year-over-year growth in media spend.

Strong Retail Media Performance:
- Retail media revenue reached $258 million, with contribution ex-TAC up 25% year-over-year at constant currency.
- The growth was attributed to strong performance across all categories during the traditional Cyber Six peak and significant momentum with new partnerships and strategic collaborations.

AI Innovation and Productivity:
- The company's AI-driven performance enhancements and the launch of Commerce GO! contributed to a significant increase in media spend by 45% sequentially in Q4.
- This innovation enabled faster campaign creation and management, optimizing client budgets and driving superior outcomes.

Agency Business Expansion:
- Criteo's agency business growth outpaced the growth of the rest of the business in 2024, with a 50% increase in U.S. holdco agency engagement.
- This expansion is attributed to agencies leveraging Criteo's comprehensive commerce media platform as an enterprise play.

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CyberShellSecurity
02/05
AI-driven enhancements are a game-changer, no doubt
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Eli9105
02/05
Criteo's AI is 🔥, but Google's cookie deprecation got me worried. Who's diversifying into $AAPL ecosystem for safer harbor?
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vdeventa
02/05
Google's privacy shifts might hurt, but Criteo's resilient.
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highchillerdeluxe
02/05
Holding $CRTO since it went public. Love their innovation. Strategy: ride the retail wave and hedge with $TSLA.
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jy725
02/05
Criteo's AI is 🔥, but Google's cookie deprecation got me 🤔. Who's ready for a cookie-less future?
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Sweet-Block5118
02/05
@jy725 AI is 🔥, but cookie deprecation is a headache.
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Sam__93__
02/05
@jy725 lol, cookie-less future?
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Tiger_bomb_241
02/05
Retail media rev up 25% YoY? That's some next-level growth. Anyone else seeing Criteo as a solid long-term play?
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Working_Initiative_7
02/05
@Tiger_bomb_241 What's your target entry point?
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CALAND951
02/05
Retail media's the future, Criteo's crushing it
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