The Trade Desk Stock Climbs After Mixed Q4 Results, Expanded Share Repurchase
Portfolio Pulse from Erica Kollmann
The Trade Desk, Inc. (NASDAQ:TTD) reported mixed Q4 results with earnings per share of 41 cents, missing estimates by 4.65%, but surpassed sales expectations with $605.8 million, a 23.45% increase year over year. The company also announced an additional $647 million for its share repurchase program and provided a positive outlook for Q1 with expected revenue of at least $478 million. Following the announcement, TTD shares surged 18.8% in after-hours trading.
February 15, 2024 | 9:38 pm
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The Trade Desk reported mixed Q4 results, with a sales beat and an EPS miss, announced a significant share repurchase program, and provided a strong Q1 outlook.
The positive reaction in after-hours trading to The Trade Desk's earnings report and share repurchase announcement indicates a bullish short-term outlook. The sales beat and optimistic revenue forecast for Q1 are likely to maintain investor confidence, despite the slight miss on EPS. The additional share repurchase program underscores the company's financial health and commitment to returning value to shareholders, further supporting the stock's short-term upside.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100