Why Trade Desk Inc. Stock Plunged Today

Shares of The Trade Desk Inc. (NASDAQ: TTD) were down 15.2% as of 2 p.m. EST Friday despite the programmatic advertising leader announcing better-than-expected third-quarter results and increasing its full-year guidance.

On the former, Trade Desk's revenue climbed 50% year over year to $79.4 million, while adjusted EBITDA grew 47% to $24.4 million. Both figures were well above the company's latest guidance for revenue of $76 million and adjusted EBITDA of $21 million. On the bottom line, that translated to 63% growth in adjusted net income, to $15.3 million, or $0.35 per share, which was also significantly higher than investors' expectations for adjusted earnings of only $0.27 per share.

Image source: The Trade Desk.

Source: Fool.com