The Trade Desk (NASDAQ:TTD) reported earnings for the third quarter of fiscal year 2020 on Thursday evening. And the results have had TTD stock blasting off on Friday.
The boost comes after the company reported adjusted earnings per share (EPS) of $1.27, crushing Wall Street’s estimate of 43 cents for the quarter. Also, its revenue of $216.1 million is way above analyst estimates of $180 million.
Additionally, the company reported 84 cents in GAAP EPS for the period.
Here’s a more thorough look at the most recent The Trade Desk earnings report:
- Adjusted per-share earnings were up 69.3% from 75 cents during the same time last year;
- Revenue for the quarter comes in 32% above the $164.2 million from the third quarter of 2019;
- Operating income of $42.78 million is a 95.1% increase year-over-year from $21.93 million;
- The Trade Desk earnings report also has it bringing in a net income of $41.2 million;
- That’s a 112.4% rise compared to its net income of $19.4 million from the same period of the year prior.
Jeff Green, co-founder and CEO of The Trade Desk, had this to say about the TTD stock earnings:
“So far in 2020 we’ve seen several years of advertising disruption and innovation compressed into a few months. As a result, advertisers have become more deliberate and data-driven with every advertising dollar. That helped us deliver record quarterly revenue of $216 million and adjusted EBITDA of $77 million.”
Additionally, the company mentioned some guidance for Q4 of FY2020, noting that guidance factors in the effects of the novel coronavirus pandemic. That said, The Trade Desk is projecting revenue of between $287 million and $291 million for the period. That looks great next to Wall Street analysts calling for revenue of $254.97 million.
TTD stock was up 29.4% as of Friday morning.
On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Nick is a web editor at InvestorPlace.
