The Trade Desk (NASDAQ:TTD), a digital advertising platform, made waves on the market today. The California-based company announced its Q1 earnings, causing the stock to end the day up nearly 45%.
The Trade Desk
According to Google Finance, as of 5:31 p.m. EDT, Trade Desk, Inc. was trading at $75.61. This put the TTD stock up 43.39%. Further, Trade Desk is currently up 0.093% in after-hours trade.
For those who don’t know, Trade Desk is a company known primarily for providing technology platforms for ad buyers. When using the Trade Desk self-service platform, clients are eligible to buy and manage various data-driven digital ad campaigns using their own employees.
Trade Desk’s jump Friday was likely due to Trade Desk posting its first-quarter earnings. After all, to say that the earnings report beat expectations would be an understatement. Trade Desk completely and utterly surpassed the consensus estimate for both EPS and revenue. Thus today’s more than 40% increase. The digital advertising company says growth in the mobile, video, and audio channels helped Trade Desk obtain positive Q1 earnings.
The California-based company brought in Q1 revenue of $85.7M. This means Trade Desk is up 61% Y-O-Y. Considering analysts had forecasted Trade Desk to bring in around $73 million, it’s safe to say Trade Desk investors were pleased. The company, led by CEO Jeff Green, saw non-GAAP earnings per share come in at $0.34. This is up from $0.18 in Q1 2017.
Trade Desk had a positive start out the gates, ultimately causing Trade Desk to announce that it has raised its 2018 outlook. That’s not entirely surprising considering the above-mentioned numbers. Trade Desk is now forecasting the company’s revenue to increase to roughly $433M during the year.
The Takeaway
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Featured Image: Twitter
