TTD - Why The Trade Desk's Stock Soared on Friday
2024-02-16 13:29:47 ET
Ad-campaign automation specialist The Trade Desk (NASDAQ: TTD) sent its share prices soaring on Friday with a fantastic earnings report. The stock jumped as much as 24.2% in the morning before settling down at a still-impressive 19% gain by 12:15 p.m. ET today. The intraday peak reached a fresh two-year high.
Fourth-quarter revenue jumped 23% higher year over year to land at $606 million. Adjusted earnings rose by 9% to $0.41 per diluted share.
Your average Wall Street analyst was looking for earnings near $0.43 per share on top-line sales of roughly $582 million. The Trade Desk fell short of the profit target while exceeding revenue expectations by a similar margin.
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Why The Trade Desk's Stock Soared on Friday