RTTNews | Nov 6, 2020 09:59AM EST

09:58 Friday, November 6, 2020 (RTTNews.com) - Shares of advertising technology company The Trade Desk, Inc. (TTD) are climbing more than 19% Friday morning on upbeat third-quarter earnings. The company also provided fourth-quarter revenue outlook, better than analysts' view.

The stock touched a new high of $775.80 this morning.

Net income for the third quarter was $41.2 million or $0.84 per share compared with $19.4 million or $0.40 per share a year ago.

Earnings on an adjusted basis of $1.27 per share beat the average estimate of analysts polled by Thomson Reuters at $0.43 per share.

Revenue for the quarter rose to $216.1 million from $164.2 million in the same quarter a year ago.

For the fourth quarter, the company expects revenue to be between $287 million and $291 million. The consensus estimate stands at $254.97 million

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