Criteo's retail media unit, including Commerce Max, earned $50.2 million in Q1, up from $37.4 million last year. Performance Media brought in $399.2 million, slightly down from $407 million. Investors reacted positively, with stock price increasing by 10%.
Criteo improved profitability by reducing headcount, layoffs, and cutting traffic acquisition costs (TAC) from $224.4 million to $196.2 million in Q1. As retail media surpasses retargeting, TAC is expected to decrease further. Google's Chrome third-party cookie phaseout will impact Criteo's revenue.
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