Trade Desk soars to new 52-week high

By Baystreet Stocks to Watch

The Trade Desk, Inc. (NASDAQ: TTD) rose Friday trading after the company reported better-than-expected earnings for its second quarter. The company issued strong third quarter sales guidance and raised FY18 sales guidance.

Revenues came in for the quarter at $112.3 million, in contrast with $72.8 million in the prior-year quarter.. Net income proved to be $19.3 million, compared to $18.8 million.

Full Year 2018 guidance called for revenue of at least $456 million, revised from $433 million, while adjusted EBITDA was projected to be of $140 million, revised from $133 million

Said CEO Jeff Green “There is strong momentum to diversify the way advertisers spend on digital. We continued to see marketers spend disproportionately more with The Trade Desk as they look beyond the few search and social sites that historically captured the most advertising dollars. Our strategy of being the best platform for media buying and not owning or arbitraging media is more valuable today than it ever was.

“We broke our previous revenue record and surpassed our own expectations during the second quarter. Record revenue of $112.3 million was a 54% increase year over year which equaled the 54% year over year increase we had last year in the second quarter. Net income was a record $19.3 million. Connected TV, audio, mobile and video led our channel growth.”

Shares traded early Friday at $119.81, up $26.52 from Thursday’s close, surging to a fresh 52-week high

This article provided by NewsEdge.