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,
were up 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.”
This story originally appeared on Marketwatch
