Trade Desk (NASDAQ:TTD) had a strong beginning to the end of the week as the company reported its latest quarterly earnings results, which came in well ahead of analysts’ expectations and sent shares skyrocketing more than 30% Friday.
The California-based ad-tech company said that it had a very profitable second quarter as it reaches the midpoint of its fiscal 2018, topping the outlook that Wall Street analysts were calling for. The company’s net income for the period amounted to $19.3 million, or 43 cents per share.
Trade Desk’s net income was stronger than what it amassed during the year-ago period, when it brought in net income of $18.8 million, or 43 cents per share. On an adjusted basis, the company earned 60 cents per share.
Analysts were projecting the company to bring in adjusted earnings of 44 cents per share, according to data from a survey compiled by FactSet. Trade Desk also impressed on the revenue front as its sales reached $112.3 million, well ahead of the $72.8 million that it raked in during the second quarter of fiscal 2017.
The Wall Street consensus estimate was calling for the company to bring in revenue of $104 million, according to data compiled by FactSet. For its third quarter, the company projects revenue of $116 million, ahead of the $109.2 million that Wall Street forecasts.
For the fiscal year, Trade Desk’s revenue guidance is $433 million in sales, which is below the $436.5 million that Wall Street estimates.
TTD stock was rising on a consistent basis on Friday, going up by 36.5% by mid-afternoon due to the company’s strong quarterly earnings showing and better-than-expected revenue outlook.