By Emon Reiser
Shares of Trade Desk fell after the digital media marketplace forecast weaker-than-expected guidance and revenue results that missed Wall Street's expectations.
The stock dropped 26% to $90.93 in after-hours trading on Wednesday. Shares were up 65% in the last year at the close of the market session.
The Los Angeles-based platform for buyers of advertising said it expects first quarter revenue of $575 million, missing the $582 million forecast of analysts surveyed FactSet.
If Trade Desk's outlook is accurate it will be the second consecutive quarter it missed estimates. The company reported fourth-quarter revenue $741 million, falling short of the $758.9 million analysts expected. In the year-ago period, revenue was $606 million.
Trade Desk had a fourth-quarter profit of $182 million, or 36 cents per share, up from $97 million, or 19 cents, for the prior year.
Adjusted for one-time items, earnings were 59 cents a share. Analysts polled by FactSet expected 31 cents a share.
Write to Emon Reiser at emon.reiser@wsj.com
(END) Dow Jones Newswires
February 12, 2025 17:28 ET (22:28 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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