Trade Desk Shares Up More Than 16% After Company Swings To Profit

Shares of Trade Desk Inc. rose more than 16% late Thursday after the Santa Monica, Calif.-based company, which went public in September, swung to a profit. Trade Desk said it earned $4.9 million, or 11 cents a share, in the first quarter, versus a loss of $1 million, or $4.45 a share, in the year-ago period. Adjusted for one-time items, the advertising software company earned $7.8 million, or 18 cents a share, compared with $3.5 million, or 9 cents a share, a year ago. Revenue rose to $53.4 million, from $30.4 million a year ago. Analysts polled by FactSet had expected per-share earnings of 1 cent a share on sales of $43 million for the quarter. Trade Desk said it expects revenue of $67 million in the second quarter, and "at least" $291 million for the year, up from a previous guidance of $270 million. Shares had ended the regular trading session down 0.4%.