Trade Desk started at neutral with $87 stock price target at Instinet

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Trade Desk stock shoots up on earnings beat for adtech company

Shares of Trade Desk Inc. skyrocketed more than 18% late Thursday after the advertising technology company reported adjusted first-quarter earnings above Wall Street expectations. Trade Desk said it earned $9.1 million, or 20 cents a share, in the quarter, compared with $4.9 million, or 11 cents a share, in the year-ago period. Adjusted for one-time items, Trade Desk said it earned $15.3 million, or 34 cents a share, compared with $7.8 million, or 18 cents a share, a year ago. Revenue rose to $85.7 million, from $53.4 million a year ago. Analysts polled by FactSet had expected adjusted earnings of 10 cents a share on sales of $73.2 million. “We continue to invest in technology infrastructure, product development, and international expansion. These areas of investment are critical to gaining additional market share. We expect the investments we are making now will help drive our next wave of growth in the coming years,” Chief Executive and founder Jeff Green said in a statement. Trade Desk stock ended the regular trading day up 2.4%.

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