The Trade Desk, Inc. TTD shares are trading higher after the company reported its second-quarter financial results Thursday. Here's a look at the details from the report.
The Details: The Trade Desk reported quarterly earnings of 39 cents per share, which beat the analyst consensus estimate of 35 cents by 11.43%. Quarterly sales clocked in at $584.55 million, which beat the analyst consensus estimate by 1.17% and is a 25.91% increase over sales from the same period last year.
The company highlighted its customer retention rate remained over 95% during the second quarter, as it has for the past 10 consecutive years.
The Trade Desk did not repurchase any of its shares during the second quarter and had $575 million available and authorized for repurchases as of June 30, 2024.
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“Q2 was another strong quarter for The Trade Desk, with revenue of $585 million, representing 26% year-over-year growth,” said Jeff Green, CEO of The Trade Desk.
“We’ve made significant strides in CTV, retail media and identity, empowering the world’s largest brands to buy premium media on the open internet with unprecedented agility and precision. As Kokai ramps, we’re intuitively surfacing value for advertisers, integrating data into every decision, advancing the full power of AI as a co-pilot, and enabling advertisers to maximize the potential of their first party data,” Green added.
Outlook: The Trade Desk expects revenue of at least $618 million and adjusted EBITDA of approximately $248 million for the third quarter.
TTD Price Action: According to Benzinga Pro, The Trade Desk shares are up 5.53% after-hours at $93.80 after gaining 3.96% during regular trading Thursday.
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Image: Courtesy of The Trade Desk, Inc.
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