Trade Desk shares plummet on dour Q4 revenue forecast
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The Trade Desk (TTD) craters on weak guidance; analysts say buy after 'dust settles'
November 9, 2023 4:50 PM EST(Updated - November 10, 2023 6:54 AM EST)
The Trade Desk Inc. (NASDAQ: TTD) shares plunged 27% in pre-open trading Friday, but are off their worse overnight levels, after reporting better-than-expected third quarter results but providing fourth quarter guidance below the Street. About a half-dozen analysts have slashed numbers following the weak guidance, but most remain positive on the company's long-term trends.
The ad tech company reported that revenue in the third quarter rose 25% to $493 million, topping the consensus of $486.9 million. Non-GAAP EPS was $0.33, versus the consensus of $0.29.
For the fourth quarter, the company... More
