The Trade Desk, Inc. TTD shares are racing higher after the company reported its fourth-quarter financial results after the bell Thursday. Here's a look at the highlights.
The Details:
The Trade Desk reported quarterly earnings of 41 cents per share which missed the analyst consensus estimate of 43 cents by 4.65%.
The company reported quarterly sales of $605.8 million, beating the analyst consensus estimate of $582.17 million by 4.06% and representing a 23.45% increase over sales of $490.74 million from the same period last year.
The Trade Desk also announced that its board of directors approved an additional $647 million under its share repurchase program.
“Once again The Trade Desk outpaced nearly all areas of digital advertising in 2023, with $1.95 billion of revenue representing 23% growth year over year and a record $9.6 billion of spend on our platform,” said Jeff Green, CEO of The Trade Desk.
“At the same time, we continue to generate significant profitability and cash flow, which allows us to remain at the bleeding edge of our industry, with innovations such as Kokai. Our results are testament to the growing value that advertisers are placing on the open internet versus the limitations of walled gardens,” Green added.
Outlook:
The Trade desk expects first-quarter revenue of at least $478 million versus the $451.87 million estimate and adjusted EBITDA of approximately $130 million.
Related News: Fastly Stock Tanks After Mixed Q4 Results – Here’s Why
TTD Price Action: According to Benzinga Pro, The Trade Desk shares are trading up 18.8% after-hours at $89.92 at the time of publication.
Image: from Shutterstock
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