Trade Desk shares plunge 30% on weak guidance tied to auto strikes


Jeff Green, CEO, The Trade Desk

Scott Mlyn | CNBC

The Trade Desk shares plunged about 30% in after-hours trading on Thursday after the ad-tech company issued fourth-quarter revenue guidance that fell well short of analysts’ estimates.

Third-quarter results topped estimates. Here’s how the company did:

  • Earnings per share: 33 cents, adjusted vs. 29 cents expected by LSEG, formerly known as Refinitiv
  • Revenue: $493 million vs. $487.04 million expected by LSEG

For the December period, Trade Desk projected revenue of at least $580 million, trailing the $610 million that was expected by analysts, according to LSEG.

A Trade Desk spokesperson told CNBC that guidance came “in slightly below consensus,…

Source cnbc.com

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