RTTNews | Nov 8, 2021 09:59AM EST

09:58 Monday, November 8, 2021 (RTTNews.com) - Shares of technology company that empowers buyers of advertising, The Trade Desk, Inc. (TTD) are rising more than 23% in the morning trade on Monday following better-than-expected third-quarter results. The company also provided fourth quarter revenue outlook, that came in above analysts' view.

The company reported net income of $59.4 million or $0.12 per share, higher than $41.2 million or $0.08 per share in the same quarter a year ago.

Excluding items, earnings of $0.18 per share beat the average estimate of 14 analysts polled by Thomson Reuters at $0.15 per share.

Revenue for the quarter increased 39% year-over-year to $301.1 million. The consensus estimate was for $283.52 million.

Looking forward to the fourth quarter, the company expects revenue of at least $388 million. Analysts expect earnings of $386.73 million for the quarter.

TTD, currently at $84.90 has traded in the range of $46.71- $97.28 in the past 52 weeks.

Read the original article on RTTNews ( https://www.rttnews.com/3240442/the-trade-desk-rallies-on-upbeat-quarterly-results-increased-outlook.aspx)

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