MW Trade Desk had investors worried. Those fears have just been confirmed.
By Claudia Assis
Trade Desk's stock falls more than 20% after hours
Shares of Trade Desk Inc. dropped more than 25% in the extended session Wednesday after the ad-tech company reported lower-than-expected sales for its most recent quarter and compounded the problem by calling for lower current-quarter sales.
Trade Desk (TTD) reported fourth-quarter sales of $741 million, against expectations of sales of $759 million, according to FactSet, and the company's own rosier predictions.
Trade Desk's founder and Chief Executive Jeff Green said the company was "disappointed" to fall short of its expectations. In November, the company had called for fourth-quarter revenue of "at least $756 million."
Trade Desk said it had embarked on a reorganization in December to improve connected TV, retail media and others aspects of the business.
Going into the report, Wedbush analyst Dan Ives had cited a survey showing "more modest spending growth" for Trade Desk in the fourth quarter.
Trade Desk guided for first-quarter sales of at least $575 million. That is against FactSet expectations of first-quarter sales of $582 million.
Trade Desk reported adjusted per-share earnings slightly ahead of forecasts, at 59 cents a share versus FactSet consensus for 57 cents a share.
-Claudia Assis
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(END) Dow Jones Newswires
February 12, 2025 16:55 ET (21:55 GMT)
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