Trade Desk shares plunge about 30% on weak guidance tied to auto, Hollywood strikes
Publishing timestamp: 2023-11-09 18:11:03
Summary
The Trade Desk shares plunged 30% in after-hours trading after the company provided fourth-quarter revenue guidance that fell short of analyst expectations. The company projected revenue of at least $580 million, well below the $610 million estimate. The guidance was affected by cautiousness from advertisers in certain verticals, such as the U.S. auto and media/entertainment industries due to strikes. The company's CEO expressed confidence in the long-term outlook but acknowledged the short-term impact of macro uncertainty.
Sentiment: NEGATIVE
Tickers: PINS, STLAM-IT, SNAP, GOOGL, GOOG, META, STLA, F, TTD, GM,
Keywords: internet, pinterest inc, stellantis nv, ford motor co, general motors co, alphabet inc, breaking news: technology, business news, alphabet class c, mobile, meta platforms inc, earnings, snap inc, social media, technology, trade desk inc,
Source: https://www.cnbc.com/2023/11/09/tradedesk-ttd-q3-earnings.html