Trade Desk Rides Q4 Numbers to Sharply Higher Stock Prices
Trade Desk Inc (NASDAQ: TTD) rose in price Friday after the company reported stronger-than-expected results for its fourth quarter. The company issued first quarter and FY18 sales guidance ahead of consensus.
The Los Angeles-based company is a provider of a global technology platform for buyers of advertising. Its CEO, Jeff Green, said “The fourth quarter was outstanding for the Trade Desk and a capstone to a terrific 2017. For the year, we surpassed $1.55 billion in gross spend on our platform, grew revenue 52% to more than $308 million and generated over $95 million of adjusted EBITDA.”
Revenues for the fourth quarter came in at $72.4 million, compared to $102.6 million in the prior-year quarter. Fourth-quarter net income registered at $16.8 million, compared to $10.3 million.
Green added: “We exited 2017 with strong momentum with more customers and more spend on more channels than ever before and 2018 is off to a strong start. For 2018, we expect gross spend on our platform to be at least $2.1 billion and revenue to be at least $403 million.
“In the year ahead, we are launching an enhanced user experience on our platform based on data visualization and we are unveiling robust media planning tools that will leverage our data to model optimum campaigns.”
Shares in TTD were up $10.17, or 21%, to $58.57, within a 52-week trading range of $34.79 to $67.30.