What's Going On With The Trade Desk Stock Friday?

The Trade Desk, Inc. TTD stock is moving lower Friday despite reporting better-than-expected 2024 third-quarter financial results after the bell on Thursday.

The Details: The Trade Desk reported adjusted earnings per share of 41 cents beating analyst estimates of 39 cents. In addition, the company reported sales of $628 million, beating analyst estimates of $619.84 million and representing a 27% year-over-year increase.

Jeff Green, Co-founder and CEO of The Trade Desk, said the company’s revenue performance, “underlines the value that advertisers are placing on precision and transparency as they work with us to maximize the impact of their campaigns.”

Furthermore, the company reported adjusted EBITDA of $257 million and an adjusted EBITDA margin of 41%. Additionally, it reported net income of $207 million.

Besides from financial data, the Trade Desk reported some business highlights from the quarter. It reported customer retention of over 95%. Also, the company repurchased $54 million worth of its Class A common stock. It has $521 million available under its current share repurchase authorization.

The Trade Desk issues guidance for the 2024 fourth-quarter. It sees revenue of at least $756 million versus analyst estimates of $749.78 million. The company also expects adjusted EBITDA of about $363 million.

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TTD Price Action: At the time of writing, The Trade Desk stock is moving 5.03% lower at $125.80, per data from Benzinga Pro.

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