Tech Stocks This Week: The Trade Desk, Intuit, and Roku Jump

These three tech stocks impressed investors with their strong growth.

Daniel Sparks
Daniel Sparks
Feb 23, 2019 at 5:06PM
Technology and Telecom

Three of the biggest stories this week surfaced in the past few days, when three companies -- The Trade Desk (NASDAQ:TTD), Roku (NASDAQ:ROKU), and Intuit (NASDAQ:INTU) -- reported earnings and saw their shares jump. Two of these stocks surged 25% or more.

Here's a look at some key takeaways from each of these companies' earnings releases.

Check out the latest IntuitRoku, and The Trade Desk earnings call transcripts.

A chart showing stocks moving higher

Image source: Getty Images.

The Trade Desk

Shares of programmatic ad-buying platform The Trade Desk surged on Friday, rising more than 31% by the time the market closed. The stock's gain followed a stellar fourth-quarter report in which management's revenue crushed both analysts' estimates and management's guidance for the period.

The Trade Desk reported revenue of $160.5 million, ahead of the company's outlook for fourth-quarter revenue of $147 million. The quarter highlighted strong business growth, with revenue up 56% year over year and earnings per share rising 121% to $0.84.

The results capped off a strong year in which The Trade Desk saw its full-year revenue growth rate accelerate to 55%, up from 52% growth in 2017.

Roku

Roku shares jumped 25% on Friday, following the company's fourth-quarter results Thursday afternoon. The streaming-TV platform's fourth-quarter revenue and earnings per share both easily beat consensus analyst forecasts for the two metrics. Revenue increased 46% year over year to $275.7 million, coming in ahead of analysts' average estimate for revenue of $262 million. Earnings per share for the quarter were $0.05, down from $0.06 in the year-ago quarter but beating analysts' consensus forecast for $0.03.

"Q4 results exceeded our outlook for revenue, gross profit, and adjusted EBITDA, driven by strong operational execution and robust active account growth," management said in the company's fourth-quarter shareholder letter.

Active accounts increased by 3.3 million in Q4, bringing total active accounts to 27.1 million. Streaming hours surged 69% year over year.


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Intuit

Shares of financial software company Intuit rose nearly 7% on Friday. The stock's gain was prompted by the company's better-than-expected fiscal second-quarter results. Revenue for the period increased 12% year over year to $1.502 billion. That beat a consensus analyst estimate for revenue of $1.48 billion. Non-GAAP earnings per share rose 19% year over year to $1.00, coming in ahead of a consensus forecast for $0.86. 

The quarter was driven by a 38% year-over-year increase in its small business online ecosystem revenue, or revenue from the company's online small-business and self-employed group offerings.

The company's QuickBooks Online subscriber number notably increased 38% year over year to 3.9 million.