Despite concerns over Apple's ITP and GDPR, Criteo posts record growth for 2017
French adtech firm Criteo has posted bumper results for the 2017, reporting a year-on-year revenue increase of 28% to reach $2.2bn – showing growth amid concerns from analysts that its success would be dented by Apple's roll out of privacy features in its web browser, plus the impending General Data Protection Regulations (GDPR).
Criteo credited improved technology, client wins and bettter access to inventory for a strong Q4 performance
Total global revenue for the final quarter of 2017 sat at a record $674m, a 19% increase on the $567m the firm clocked up in the same period last year. The Q4 turnover also demonstrated growth on Q3 where revenue had sat at $564m.
The retargeting virtuoso had previously suggested that Apple's Intelligent Tracking Prevention (ITP) feature which was launched on Safari in June, was likely to cut revenues by as much as one fifth compared to before the launch, but it has credited improved technology, client wins and better access to inventory for a strong Q4 performance.
In Q4, revenues in the US rose to $324m, a 22% jump on 2016 and a 42% increase on the previous quarter. Overall US revenue for the full 12 months of 2017 sat at $990m, a large slice of the firm's total turnover.
"Our business is seeing strong momentum, in particular in the US," said Eric Eichmann, Criteo's chief executive."This good traction, combined with the growing adoption of our new products, positions us well for 2018 and beyond."
Criteo said it landed a total of 820 new clients in the final quarter of 2017, ending the year with over 18,000 commerce and brand clients, while maintaining the client retention rate at close to 90% across its product portfolio.
Further details about the driving factors in its quarterly results can be found here.