Business Corpus: Trade Desk Stock Jumps To All-Time High As Earnings, Guidance Top ViewsTrade Desk stock gained after the digital advertising firm late Thursday reported second-quarter profit and revenue that beat expectations as it added more large customers. The post Trade Desk Stock Jumps To All-Time High As Earnings, Guidance Top Views appeared first on Investor's Business Daily.

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Trade Desk stock rocketed higher Thursday after the digital advertising firm reported second-quarter profit and revenue that beat expectations as it added more large customers.

The ad-tech firm's September sales guidance topped views.

Trade Desk (TTD) stock shot up 13% to 105.50, an all-time high, in after-hours trading on the stock market today.

The Ventura, Calif.-based company said that adjusted second-quarter earnings were 60 cents a share, up 15% from a year ago, with revenue rising 54% to $112.3 million, topping estimates. International growth, including China, boosted overall revenue.

Trade Desk Competes With Google

Analysts expected Trade Desk to report earnings of 44 cents on sales of $104 million for the period ended June 30. A year earlier, the provider of automated advertising-buying technology earned 52 cents a share on sales of $73 million.

Trade Desk competes with Alphabet's (GOOGL) Google as well as startup AppNexus, recently acquired by AT&T (T)

"Our strategy of being the best platform for media buying and not owning or arbitraging media is more valuable today than it ever was," Trade Desk Chief Executive Jeff Green said in a press release.

Guidance Tops Analyst Estimates

Trade Desk is ranked No. 3 in the IBD 50 roster of growth stocks. The company enables agencies and other ad buyers to purchase online and mobile advertising through its self-service platform. Trade Desk is pushing into the Connected TV market.

For the September quarter, Trade Desk said it expects revenue of $116 million. Analysts had projected $109 million, up 37%.

Trade Desk stock had doubled in 2018 as of Thursday's regular session. Trade Desk stock has been consolidating after shares soared following its first-quarter earnings beat in May.

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