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Google announces that it will retain third-party cookies in Chrome, benefiting Criteo.

Google announces that it will retain third-party cookies in Chrome, benefiting Criteo.

TraderKnowsTraderKnows
07-24
SummaryThis Tuesday local time, Google announced that it will change the previous policy of phasing out third-party cookies in the Chrome browser.

Google announced on Tuesday that it will no longer phase out third-party cookies in the Chrome browser.

While the company continues to develop its Privacy Sandbox API, it now plans to offer users "informed choices," allowing them to adjust their web browsing settings at any time. This decision comes after multiple delays, with the most recent timetable planning for the full phase-out of third-party cookies by early 2025.

Stifel analysts commented, "After multiple delays over the past four years, given the lack of testing and preparation by publishers, advertisers, and ad tech suppliers, many in the industry expected this outcome."

"Frankly, we have always believed cookies would eventually be phased out, but we are relatively confident that the industry is better prepared this time compared to when Apple phased out cookies years ago," they added.

More broadly, analysts believe that retaining third-party cookies will benefit many industry participants expected to be negatively impacted, particularly smaller publishers.

In their report, Criteo (CRTO) was highlighted as the biggest beneficiary of this announcement, as the cookie phase-out has been a major pressure on its stock price.

BMO Capital Markets analysts also noted that CRTO is a net beneficiary and added that The Trade Desk is also well-positioned without the cookie phase-out.

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