The Trade Desk (TTD) has reported third-quarter financial results that beat Wall Street estimates across the board.
The company, which sells technology that helps with online advertising, announced earnings per share (EPS) of $0.41 U.S., which topped analyst estimates of $0.39 U.S.
Revenue in the quarter totaled $628 million U.S., which also was above forecasts that called for sales of $620 million U.S.
Looking ahead, The Trade Desk said that it expects revenue in the current fourth quarter of $756 million U.S., which is ahead of consensus forecasts of $752 million U.S.
The Trade Desk added that its customer retention rate remained above 95% for the tenth consecutive year.
The company expanded key partnerships with companies such as Spotify (SPOT) and Roku (ROKU) during the quarter.
Management said that the company repurchased $54 million U.S. of its Class A common stock during the year’s third quarter.
Despite the strong results, TTD stock is down 10% on news of the Q3 print. The decline comes after the company’s share price had risen 88% so far this year to trade at $132.53 U.S.
