Trade Desk Soars on Forecasting Another Quarter of Record Revenue
By Dhirendra Tripathi
Investing.com – Trade Desk stock (NASDAQ:TTD) surged more than 24% Monday as the advertising-software firm guided for an at least 21% growth in its fourth-quarter revenue.
The forecasted October through December revenue of $388 million comes after the company posted a 39% growth in its third-quarter revenue, to $301.1 million.
Adjusted earnings before interest, taxes, depreciation and amortization in the ongoing quarter is seen at approximately $175 million, the company said in a release.
The robust outlook comes even as the firm, like many that are advertising-dependent, said it faces a period of higher uncertainty in its business outlook.
The company said it is seeing growth across all channels and “none more so than connected TV," as viewers shift to new digital, streaming services and more advertisers apply data to TV advertising campaigns.
Adjusted net profit was over 42% higher, at $89.2 million. Customer retention remained over 95% during the quarter, the company release said.
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Trade Desk Soars on Forecasting Another Quarter of Record Revenue
