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Trade Desk shares rose 20% to $17.93 in after-hours trading Monday after the advertising platform forecast fourth-quarter revenue above analysts’ expectations. The gain followed a steep decline: through Monday’s close, the stock was down 60% for the year.
The company expects fourth-quarter revenue of at least $755 million, compared with the $688 million analysts had projected.
Third-quarter revenue slipped less than 1% to $736 million. Profit fell to $38 million, or 8 cents a share, from $116 million, or 23 cents a share, a year earlier. Adjusted earnings were 33 cents a share, topping the consensus estimate of 25 cents.
Chief Executive Jeff Green said Trade Desk is moving with greater urgency to improve customer engagement and advance a new measurement approach. He said it is designed to help marketers better understand what is driving business growth.
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