Criteo S.A. (NASDAQ: CRTO) reported Q2 EPS of $0.27, $0.32 better than the analyst estimate of ($0.05). Revenue for the quarter came in at $437.61 million versus the consensus estimate of $154.71 million.

• Revenue declined 17% year-over-year, or 16% at constant currency1, to $438 million, after an estimated $100 million net negative COVID-19 impact, or 19 points of year-over-year growth at constant currency.
• Revenue excluding Traffic Acquisition Costs, or Revenue ex-TAC2, decreased 20% year-over-year, or 18% at constant currency, to $180 million ($178 million at guidance rates), representing 41% of revenue. The estimated net negative impact of COVID-19 on Revenue ex-TAC was approximately $41 million, or 19 points of year-over-year growth at constant currency.
• Net income decreased 51% year-over-year to $6 million, representing 1% of revenue.
• Adjusted EBITDA2 declined 30% at constant currency to $39 million, representing 22% of Revenue ex-TAC.
• Diluted EPS decreased 44% to $0.09 and Adjusted diluted EPS2 decreased 43% to $0.27.
• Cash flow from operating activities was $33 million.
• Free Cash Flow2 was solid in the current economic context at $15 million.
• Our cash position was $578 million as of June 30, 2020, up $159 million compared to Dec. 31, 2019.
• The Company had financial liquidity in excess of $830 million as of June 30, 2020.

"I'm pleased with our better-than-expected performance and strong additions to our leadership," said Megan Clarken, CEO. "The team is fully energized and focused on executing on our strategic plan."

"Q2 was a solid quarter delivered in a still uncertain context," said Dave Anderson, Interim CFO. "We remain hyper-focused on managing responsibly our expense base while also investing for growth."

For earnings history and earnings-related data on Criteo S.A. (CRTO) click here.