The Trade Desk Inc (NASDAQ:TTD) is trading significantly lower Monday after the company expressed uncertainty in regard to guidance in its first-quarter earnings release.
What Happened: The Trade Desk reported first-quarter financial results before the market open on Monday.
The company reported earnings of $1.41 per share, beating the estimate of 77 cents per share. It reported revenue of $219.81 million, which beat the estimate of $216.9 million. The Trade Desk also announced a 10-for-one stock split.
It seems investors are clinging to the uncertainty surrounding financial guidance that the company cited in its earnings press release.
"Our business has been impacted by the COVID-19 pandemic that has significantly impacted advertiser demand. Like many companies that are ad-funded, we are facing a period of higher uncertainty in our business outlook. We expect our business performance could be impacted by issues beyond our control, such as changing economic conditions or additional shelter-in-place orders that may or may not occur," the company stated.
Price Action: The Trade Desk traded as high as $972.80 and as low as $269 over a 52-week period. At last check Monday, the stock was down 18.20% at $540.84.