This study deals with the relationship between corporate social responsibility (CSR) and financial performance (FP) of Casablanca stock exchange companies. Our investigation covers the period 2012-2017. CSR is approached by a dummy variable which takes value of 1 if the company is labeled by CGEM CSR label, and value of 0 if not. Accounting and financial performance indicators were used to assess the FP: Return On Assets (ROA), Return On Equity (ROE), Return On Sales (ROS) and Market to Book Value (MBV). Con rol variables are measured by size, age, risk, and industry. Panel data are used as well to analyze data. Descriptive statistics, regression and correlation analyses were carried out. Findings of this study indicate mixed results which might be explained by the early stage of CSR in Morocco. Indeed, we have found a positive impact of CSR on PF, when using ROA as proxy in FP. This result supports social impact hypothesis. The study however didn’t find any impact of CSR on FP when using ROE as proxy in FP, sustaining the neutrality hypothesis. When using ROS, the relationship is found negative and supports since then the tradeoff hypothesis. The model testing the impact of CSR on MBV was not significant.