Trade Desk stock falls 13% after company’s Q3 earnings
Shares of Trade Desk Inc. TTD, -7.34% fell more than 13% in the extended session Thursday after the advertising technology company reported third-quarter earnings and sales above expectations. Trade Desk earned $20 million, or 44 cents a share, in the quarter, compared with $10 million, or 23 cents a share, in the year-ago period. Adjusted for one-time items, the company earned $30 million, or 65 cents a share, compared with $15 million, or 35 cents a share, a year ago. Revenue rose 50% to $119 million from $79 million a year ago. Analysts polled by FactSet had expected adjusted EPS of 50 cents on sales of $117 million. Trade Desk said it expects 2018 revenue of "at least $464 million," revised from $456 million and compared with forecasts of $460 million according to analysts surveyed by Fact. "These major wins over the past two years are providing significant momentum in 2018 and we believe this momentum will continue into 2019 and beyond," Chief Executive and founder Jeff Green said in a statement. Shares of Trade Desk fell 7% in the regular session Thursday.
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