The Trade Desk | $TTD Stock | Shares Rocket After Q2 Profits Beat Estimates

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The Trade Desk, Inc. (NASDAQ: TTD)

 

Shares of digital-advertising platform operator, The Trade Desk, Inc., gapped up sharply in premarket trading on Friday, following a better-than-expected June quarter.

Investors traded much on the results, sending the shares to an all-time high of $113.00.

TTD stock ended Thursday’s regular session at $93.29, up $1.92, or 2.10% as investors eagerly waited for quarterly financial report.

The stock has gained nearly 73% in the last year, and more than doubled year-to-date.

TTD Earnings & Outlook

trade desk stock chart

The Ventura, California-based company said it had a profit of $19.3 million, or $0.43 per share during the quarter. This compares to a profit of $18.8 million, or $0.43 per share, in the second quarter of the previous year.

Adjusted for one-time items, earnings came in at $0.60 per share, compared to earnings of $0.52 per share a year ago.

Sales also improved from $72.8 million in the earlier-year quarter, to 112.3 million. Thompson Reuters, based on analyst estimates, was for adjusted earnings of $0.44 per share on sales of $104 million.

The company expects third-quarter and full-year sales of $116 million and $433 million, respectively. Wall Street sees sales of $109.2 million for the current quarter, and $436.5 million for the full year.

The Trade Desk CEO Comments

Chief executive Jeff Green said, “There is strong momentum to diversify the way advertisers spend on digital. We continued to see marketers spend disproportionately more with The Trade Desk as they look beyond the few search and social sites that historically captured the most advertising dollars. Our strategy of being the best platform for media buying and not owning or arbitraging media is more valuable today than it ever was.”

Green continued, “We broke our previous revenue record and surpassed our own expectations during the second quarter.  Record revenue of $112.3 million was a 54% increase year over year which equaled the 54% year over year increase we had last year in the second quarter. Net income was a record $19.3 million. Connected TV, audio, mobile and video led our channel growth. Our momentum continued with additional large customer wins and robust international growth. During the quarter, we also launched the Next Wave, the biggest product launch in our company’s history. The Next Wave includes three game-changing components: Koa™, a powerful artificial intelligence (AI) agent; The Trade Desk Planner, a data-driven media planning tool; and Megagon, our intuitive new user experience.”

The Trade Desk Company Profile

The Trade Desk, Inc. is a technology company that provides a self-service omnichannel software platform that enables clients to purchase and manage data-driven digital advertising campaigns in the U.S. and internationally.

Its platform allows clients to manage integrated advertising campaigns in various advertising channels and formats, including connected TV, mobile, video, audio, display, social, and native on various devices, such as smart TVs, computers, and mobile phones and tablets.

The company serves advertising agencies and other service providers for advertisers. The Trade Desk, Inc. was founded in 2009 by David Pickles and Jeffrey Terry Green. –YahooFinance 

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