Trade Desk earnings and revenue for the first quarter topped analyst estimates, while company guidance only met Wall Street targets. The Trade Desk earnings report sent shares in the provider of automated digital advertising tools plunging in morning trades Thursday.
XTrade Desk (TTD) said adjusted earnings were 49 cents a share, up 44% from a year earlier, with revenue rising 41% to $121 million. A year earlier, Trade Desk earned 34 cents a share on sales of $85.7 million. Analysts expected Trade Desk earnings of 25 cents on sales of $117 million for the period ended March 31.
The company said first-quarter earnings before interest, taxes, depreciation and amortization, or EBITDA, rose 31% to $24.7 million, topping estimates of $20.3 million.
For the current June quarter, Trade Desk forecast revenue of $154 million at its mid-point of guidance, in line with estimates of $153.7 million. Trade Desk said it expects Q2 EBITDA of $46 million, in line with expectations.
Trade Desk stock sank 12% to 195.32 in early trading in the stock market today. Shares in Trade Desk had zoomed 325% from a year ago as of Wednesday's market close.
Trade Desk's programmatic advertising tools enable customers to buy online and mobile ads. Use of programmatic advertising is increasing in internet TV ad purchases.
Trade Desk stock was ranked No. 50 in the IBD 50 roster of fast-growing companies.
Details to follow.
Follow Reinhardt Krause on Twitter @reinhardtk_tech.
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