{"id":82845,"date":"2023-11-10T01:34:52","date_gmt":"2023-11-10T06:34:52","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/the-trade-desk-shares-plummet-on-weak-ad-outlook\/"},"modified":"2023-11-10T01:34:57","modified_gmt":"2023-11-10T06:34:57","slug":"the-trade-desk-shares-plummet-on-weak-ad-outlook","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=82845","title":{"rendered":"The Trade Desk Shares Plummet on Weak Ad Outlook"},"content":{"rendered":"
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<\/p>\n<\/figure><\/div>\n

Shares of streaming TV advertising infrastructure provider
\n The Trade Desk
\n are getting hammered in late trading Thursday after the company provided a softer-than-expected outlook for the December quarter.\u00a0<\/p>\n

The report raises fresh questions about the health of the TV advertising market in the final quarter of the year.<\/p>\n

\n

In after hours trading, The Trade Desk was off 28.5%, to $54.88.<\/p>\n

For the September quarter, The Trade Desk (ticker: TTD) posted revenue of $493 million, up 25% from a year ago, and ahead of Street consensus estimates as tracked by
\n FactSet
\n of $487 million. Adjusted profits were 33 cents a share, ahead of consensus at 29 cents. Under generally accepted accounting principles, the company earned 8 cents a share. Adjusted Ebitda, or earrings before taxes, interest, depreciation and amortization, was $200 million, up 23% from the year-ago quarter.<\/p>\n

But the company\u2019s outlook fell well shy of Street estimates.\u00a0<\/p>\n

The Trade Desk sees fourth-quarter revenue of \u201cat least $580 million,\u201d which would be well short of consensus at $610 million, and suggests a deceleration in growth to 18%. <\/p>\n

The company sees fourth-quarter adjusted Ebitda of \u201capproximately $270 million,\u201d falling short of the Street consensus at $291 million, and slowing to 19% growth.<\/p>\n

A spokesperson said via email that the guidance reflects \u201ctransitory cautiousness in certain verticals,\u201d in particular the media and entertainment sector, which has continued to be affected by recent labor strikes, and the U.S. automotive market.<\/p>\n

Other streaming video plays are also trading lower after hours, with
\n Roku
\n down 2.4%, to $79.60, following a 1.5% decline in Thursday\u2019s regular session.<\/p>\n

Write to Eric J. Savitz at eric.savitz@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of streaming TV advertising infrastructure provider The Trade Desk are getting hammered in late trading Thursday after the company provided a softer-than-expected outlook for the December quarter.\u00a0 The report raises fresh questions about the health of the TV advertising market in the final quarter of the year. In after hours trading, The Trade Desk […]<\/p>\n","protected":false},"author":1,"featured_media":82846,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-82845","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nThe Trade Desk Shares Plummet on Weak Ad Outlook | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Shares of streaming TV advertising infrastructure provider The Trade Desk are getting hammered in late trading Thursday after the company provided a\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=82845\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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