Benzinga | Nov 8, 2021 08:42AM EST

Why The Trade Desk Shares Are Surging Today

The Trade Desk Inc (NASDAQ:TTD) is trading higher Monday after the company announced better-than-expected third-quarter financial results and issued fourth-quarter guidance above estimates.

The Trade Desk reported quarterly earnings of 18 cents per share, which beat the estimate of 15 cents per share. The company reported quarterly revenue of $301.1 million, which beat the estimate of $283.52 million.

The Trade Desk expects fourth-quarter revenue to be at least $388 million versus the estimate of $386.73 million.

"We again delivered outstanding performance in the third quarter. Revenue growth of 39% significantly outpaced worldwide programmatic advertising growth. The world's leading brands and agencies are increasingly using our platform to apply data-driven strategies to drive precision and value across their campaigns," said Jeff Green, founder and CEO of The Trade Desk.

The Trade Desk is engaged in providing a technology platform for ad buyers.

TTD Price Action: The Trade Desk has traded as high as $97.28 and as low as $46.71 over a 52-week period.

The stock was up 22.10% at $83.73 at time of publication.