The Trade Desk (NASDAQ:TTD) shot up 18% after the closing bell on Thursday following the company’s notably stronger-than-expected FQ1 revenue guidance.
For the FQ4 2023, the company reported earnings per share (EPS) at $0.41, matching the analysts' predictions. Revenue came in at $606 million, surpassing the consensus estimate of $581.96 million.
Adjusted EBITDA margin for the quarter stood at 47%, down from 50% in the year-ago period.
Looking ahead, the marketing automation technology developer projects its first-quarter 2024 revenue to be around $478 million, significantly above the analysts' projection of $420.5 million.
The company also anticipates its adjusted EBITDA to be approximately $130 million.
“Once again The Trade Desk outpaced nearly all areas of digital advertising in 2023, with $1.95 billion of revenue representing 23% growth year over year and a record $9.6 billion of spend on our platform,” said Jeff Green, founder and CEO of The Trade Desk.
“At the same time, we continue to generate significant profitability and cash flow, which allows us to remain at the bleeding edge of our industry, with innovations such as Kokai. Our results are testament to the growing value that advertisers are placing on the open internet versus the limitations of walled gardens,” he added.