The Trade Desk (NASDAQ:TTD) reported third-quarter earnings that beat analyst expectations, but shares fell 7.9% as results and expectations fell short of high market expectations.
The ad tech company posted adjusted earnings per share of $0.41, beating analyst consensus of $0.39. Revenue for the quarter came in at $628 million, up 27% year over year and above the $620.01 million estimate.
For the fourth quarter, The Trade Desk expects revenue of at least $756 million, slightly above the analyst consensus of $752.2 million. The company’s adjusted EBITDA guidance for the fourth quarter is approximately $363 million.
“The Trade Desk delivered strong performance in the third quarter, with revenue of $628 million, accelerating growth to 27%,” said Jeff Green, co-founder and CEO of The Trade Desk. “This achievement underscores the value advertisers place on precision and transparency as they work with us to maximize the impact of their campaigns.”
Despite the solid results and positive outlook, the 7% share price decline suggests that investors had placed even higher expectations on the ad tech company.
The company highlighted its continued success in customer retention, maintaining a rate above 95% for the tenth consecutive year.
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