Trade Desk revenue outlook comes up short, but stock inches higher after earnings
Shares of Trade Desk Inc. were ahead about 1% in premarket trading Wednesday after the advertising-technology topped expectations with its latest results but delivered a revenue forecast that lagged the consensus view. The company generated net income of $16 million, or 3 cents a share, compared with net income of $59 million, or 12 cents a share, in the year-earlier period. On an adjusted basis, Trade Desk earned 26 cents a share, up from 18 cents a share a year before, while analysts tracked by FactSet were anticipating 23 cents a share. Revenue increased to $395 million from $$301 million, whereas the FactSet consensus was for $386 million. For the fourth quarter, executives at Trade Desk forecast at least $490 million in revenue as well as adjusted earnings before interest, taxes, depreciation, and amortization of about $229 million. The FactSet consensus was for $509 million in revenue and $225 million in adjusted Ebitda.
-Emily Bary
(END) Dow Jones Newswires
11-09-22 0737ET
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