The Trade Desk Reports Strong Q1 Results, Upbeat Forecast

The Trade Desk, Inc. TTD reported its first-quarter financial results after the bell Wednesday. Here's a look at the details. 

The Details:

The Trade Desk reported quarterly earnings of 26 cents per share which beat the analyst consensus estimate of 21 cents by 23.81%.

Quarterly sales came in at $491.25 million which beat the analyst consensus estimate of $480.31 million and represents a 28.33% increase from the same period last year.

The Trade Desk reported repurchasing $125 million of its Class A common stock in the first quarter of 2024. As of March 31, 2024, it had $575 million available and authorized for repurchases.

“Q1 was a strong quarter for The Trade Desk as we delivered revenue of $491 million, accelerating growth to 28% year-over-year. Our outstanding performance to start the year underlines the value advertisers are placing on premium inventory on the open internet,” said Jeff Green, CEO of The Trade Desk.

“With the continued strong growth of CTV, the growing ubiquity of UID2, new approaches to authentication, greater deployment of first-party data and retail data, and with significant AI advances in our Kokai platform, we are better positioned than ever to deliver premium value to advertisers and continue to gain market share.”

Outlook: 

The Trade Desk expects second-quarter revenue of at least $575 million and adjusted EBITDA of approximately $223 million.

Related News: Hims & Hers Health Reports Better-Than-Expected Q1 Results, Strong Guidance

TTD Price Action: According to Benzinga Pro, The Trade Desk shares are up 1.37% after-hours at $87.20 at the time of publication Wednesday.

Image: Gerd Altmann from Pixabay