U.S. stocks were in positive territory on Friday, with investors confident about reaching a solution to the U.S.-China trade conflict. The Dow Jones Industrial Average jumped 0.60% to 26,007, the S&P 500 index rose 0.53% to 2,789 and the Nasdaq Composite Index advanced 0.71% to 7,512.
Shares of Trade Desk Inc. (TTD, Financial) skyrocketed 30% after the company announced fourth-quarter results on Thursday. Revenue grew 56.4% from the prior-year quarter to $160.5 million, beating estimates by $12.77 million. Earnings of $1.09 per share also beat analysts' expectations by 30 cents.
"In 2018, we surpassed $2.35 billion in gross spend on our platform resulting in $477 million in revenue," founder and CEO Jeff Green said. "Our fourth quarter revenue growth also accelerated, growing 56% to a record $160.5 million.”
Omni-channel solutions was a key driver for the company during the quarter, including 69% growth in mobile (in-app, video and web), a 525% increase in connected TV, a 230% rise in audio, 130% growth in mobile video and mobile in-app increased more than 90%.
Looking ahead to the first quarter of 2019, the company expects revenue of $116 million and adjusted earnings before interest, taxes, depreciation and amortization of $18.3 million.
Gainers
- Newmont Mining Corp. (NEM, Financial)
- Xilinx Inc. (XLNX, Financial)
- Western Digital Corp. (WDC, Financial)
- DISH Network Corp. (DISH, Financial)
- Intel Corp. (INTC, Financial)
Losers
- Kraft Heinz Co. (KHC, Financial)
- Campbell Soup Co. (CPB, Financial)
- General Mills Inc. (GIS, Financial)
- Conagra Brands Inc. (CAG, Financial)
- Kellogg Co. (K, Financial)
- Electronic Arts Inc. (EA, Financial)
Global markets
The main European stock markets traded higher. The U.K.'s FTSE 100 gained 0.16%, France's CAC 40 rose 0.38%, Germany's Dax inched up 0.30% and Spain's IBEX 35 swelled 0.15%.
In Asia, Japan's Nikkei 225 fell 0.18%, India’s BSE Sensex slid 0.07%, Hong Kong's Hang Seng advanced 0.65% and China's Shanghai Composite jumped 1.91%.
Disclosure: The author holds no positions in any stocks mentioned.
