Shares of technology company The Trade Desk, Inc. (TTD) are surging more than 20% Wednesday morning after reporting better-than-expected fourth-quarter results. The company's first- quarter revenue outlook also came in above analysts' view.
Profit for the fourth quarter increased to $71 million or $0.14 per share from $8 million or $0.02 per share in the same quarter a year ago.
Excluding one-time items, earnings were $190 million or $0.38 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.36 per share.
Revenue for the quarter increased to $490.74 million from $395.6 million last year. The consensus estimate stood at $490.48 million.
Looking forward to the first quarter, the company sees revenue of at least 363 million. Analysts are expecting revenue of $360.94 million.
TTD, currently at $60.21, has traded in the range of $39.00-$86.88 in the last 1 year.
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