The Ventura, Calif.-based company reported fourth-quarter earnings of $39 million, or $1.09 cents per share on an adjusted basis, on revenue of $161 million. Analysts were expecting the company to report earnings of 79 cents per share on revenue of $148 million.
"2018 was a huge year for the Trade Desk. Revenue growth accelerated to 55% in 2018 from 52% in 2017. In 2018, we surpassed $2.35 billion in gross spend on our platform resulting in $477 million in revenue. Our fourth-quarter revenue growth also accelerated, growing 56% to a record $160.5 million," said Jeff Green founder and CEO.
The company forecast revenue of $116 million in the first quarter, just shy of analysts' expectations of $116.2 million.
"In 2019, we expect gross spend on our platform to be at least $3.2 billion and revenue to be at least $637 million. In the coming year, we will continue to make aggressive investments in high growth areas such as Connected TV, data, and global expansion, including in China. Our focus is on grabbing programmatic market share and deepening our engagement and strategic importance with our customers," Green said.