Ad-tech company calls out growing interest in connected TV
Trade Desk Inc. shares were soaring in Thursday’s extended session as the advertising-technology company easily cleared the bar with its forecast for the current quarter.
The company models at least $478 million in revenue for the first quarter, along with about $130 million in adjusted earnings before interest, taxes, depreciation and amortization (Ebitda). Analysts were modeling $451 million in revenue as well as $113 million in adjusted Ebitda.
Shares of Trade Desk TTD, +1.88% surged nearly 20% in Thursday’s aftermarket action.
Trade Desk posted fourth-quarter net income of $97 million, or 19 cents a share, compared with $71 million, or 14 cents a share, in the year-before period. On an adjusted basis, Trade Desk earned 41 cents a share, up from 38 cents a year before and matching the FactSet consensus view.
Revenue increased to $606 million from $491 million, whereas analysts were modeling $582 million.
“Our results are testament to the growing value that advertisers are placing on the open internet versus the limitations of walled gardens,” Chief Executive Jeff Green said in a release.
He added that more “of the world’s leading advertisers are gravitating to channels and partnerships that offer precision and premium value at scale, such as connected TV (CTV) and retail media.”