Why Is The Trade Desk (TTD) Stock Soaring Today? - Trade Desk (NASDAQ:TTD)

The Trade Desk Inc TTD reported fourth-quarter revenue growth of 24% year-over-year to $490.7 million, marginally beating the consensus of $490.5 million.
Customer retention remained over 95% for the quarter.
Income from operations improved to $100.2 million, up from a $(25.4) million loss a year ago. Adjusted EPS of $0.38 beat the consensus of $0.36.
Adjusted EBITDA improved from $192 million to $245 million. Adjusted EBITDA margin increased by 200 bps to 50%.
TTD held $1.45 billion in cash and equivalents.
Buyback: The board approved a buyback of up to $700 million.
Founder and CEO Jeff Green said, "More of the world's leading advertisers are gravitating to fast-growing channels such as Connected TV (CTV) and retail media, which offer premium value at scale."
"They are leveraging new identity tools, such as UID2, which allow them to make the most of their first-party data in a privacy-safe manner. These trends will accelerate in 2023, and we will continue to invest in our platform to help advertisers drive maximum value from these opportunities."
Q1 Outlook: Trade Desk expects revenue of at least $363 million, higher than the consensus of $360.9 million.
Price Action: TTD shares are trading higher by 8.17% at $54 in the premarket on the last check Wednesday.

Trade Desk Q4 Earnings: 24% Revenue Growth, Approves $700M Buyback, Issues Upbeat Q1 Outlook