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Trade Desk Soars on Forecasting Another Quarter of Record Revenue -Breaking

by Mike Robinson

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© Reuters.

By Dhirendra Tripathi

Investing.com – Trade Desk stock (NASDAQ:) surged more than 24% Monday as the advertising-software firm guided for an at least 21% growth in its fourth-quarter revenue.

After a 39% increase in third quarter revenue to $301.1million, the company now expects a October-December revenue of $388m.

According to a company release, adjusted earnings before interest tax, taxes and amortization are estimated at around $175million for the current quarter.

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.

The adjusted net profit, which was $89.2million, was 42% more. The company released that customer retention stood at over 95% in the fourth quarter.

 

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