Why The Trade Desk Stock Got Crushed Today
Shares of advertising technology (adtech) company The Trade Desk (NASDAQ: TTD) got crushed on Friday after the company provided financial guidance that fell short of Wall Street's expectations. As of 10 a.m. ET, The Trade Desk stock was down roughly 18%.
The Trade Desk just reported financial results for the third quarter of 2023, and Q3 numbers didn't disappoint. The company had guided for revenue of $485 million. But it generated Q3 revenue of $493 million, which was better than guidance and up 25% year over year.
On the bottom line, The Trade Desk had provided guidance for adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA). It expected $185 million in Q3 adjusted EBITDA. But it did slightly better on this count as well, delivering adjusted EBITDA of $200 million.
Source Fool.com
