The Trade Desk craters on weak guidance
The Trade Desk Inc . (NASDAQ:TTD) shares plunged 30% after-hours Thursday after reporting better-than-expected third quarter results but providing fourth quarter guidance below the Street.
The ad tech company reported that revenue in the third quarter rose 25% to $493 million, topping the consensus of $486.9 million. Non-GAAP EPS was $0.33, versus the consensus of $0.29.
For the fourth quarter, the company sees revenue of at least $580 million, which compares negatively to the consensus of $610.82 million.
The fourth quarter revenue figure would suggest growth of 18%, versus 25% this quarter and the consensus calling for 24%.
Further, the company sees fourth quarter adjusted EBITDA of approximately $270 million, versus the consensus of $291 million.
Shares of TTD were up 71% year-to-date ahead of the results.
Read more on investing.com
