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Cardlytics Inc.’s stock skyrocketed 80 percent Tuesday, its best single-day performance ever, after the digital advertising firm raised its revenue forecast and reported that its U.S. business performed better than expected. The company cited product optimization and better-than-expected growth in the U.S. business as the main drivers of the improved top-line guidance.
When announcing the new forecast, CEO Karim Temsamani praised the rigorous approach taken to manage the company’s cost structure, including $3.5 million in one-time savings during the first quarter. The revised revenue guidance for the first quarter was for $63.5 million to $66.5 million, and its bookings forecast was adjusted to $93 million to $97 million, taking into account consumer incentives.
Cardlytics is a data-driven marketing platform that works with financial institutions to help run customer loyalty programs. The company leverages the data it collects from banks and other financial institutions to help companies better understand their customers’ spending habits and more effectively target them.
Karim Temsamani is the CEO of Cardlytics. Prior to being appointed as the CEO in December 2020, he held the position of President and COO. He has over 20 years of experience in strategy and service, both in the USA and Europe. Prior to joining Cardlytics, Karim was the Chief Digital & Technology Officer at Three UK. He is passionate about using insights to create “win-win” opportunities for consumers and businesses.