Nov 6 (Reuters) - Ad-tech company Trade Desk TTD.O expects its revenue to grow at a slower pace in the fourth quarter, raising concerns around demand for its digital advertising services in the connected TV market.

Shares of the company dropped 4% in extended trading. They have fallen more than 60% so far this year.

Trade Desk forecast fourth-quarter revenue of at least $840 million, above analysts' average estimate of $830.2 million, according to data compiled by LSEG.

But that revenue translates into year-on-year growth of about 13%, slower than the 18% increase reported in the third quarter.

Advertisers are tightening marketing budgets and favoring larger platforms such as TikTok and Meta-owned META.O Facebook and Instagram, putting pressure on demand-side platform providers such as Trade Desk.

Clients are also increasingly diverting budgets toward artificial intelligence integration and development, adding to mounting concerns about subdued ad spending.

Trade Desk, which does not have its own ad inventory, allows advertisers to plan, buy and optimize campaigns across various ad exchanges and publishers.

The company posted an adjusted profit of 45 cents per share during the third quarter, compared with analysts' estimate of 44 cents.

(Reporting by Arsheeya Bajwa; Editing by Shilpi Majumdar)

((ArsheeyaSingh.Bajwa@thomsonreuters.com; +91 8510015800;))