The Trade Desk reported quarterly profit of $38 million, down from $116 million a year earlier, while its net income margin fell to 5% from 16%. The company expanded its share repurchase authorization by $731 million, bringing the total to $1 billion. It faces an earnings test following a tumble in its revenue forecast. Shares rose 21% in after-hours trading after third-quarter results exceeded Wall Street estimates.
The ad-tech firm saw revenue hit $736 million in its first annual drop since 2016, as a $44.3 million restructuring charge weighed on quarterly profits.
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