The Trade Desk Announces Q2 2024 Financial Results
Intellectia.AI Updated: 1970-01-01
The Trade Desk Announces Q2 2024 Financial Results
The Trade Desk, Inc. ("The Trade Desk") (NASDAQ: TTD), a global technology platform provider for advertisers, reported its financial results for the second quarter ended June 30, 2024.
Key Financial Metrics:
| Metric | Q2 2024 | Q2 2023 | YoY Change | Q1 2024 | QoQ Change | Consensus Estimates Q2 2024 |
|---|---|---|---|---|---|---|
| Revenue ($M) | $585 | $464.29 | +26% | $500 | +17% | $577.8 |
| Earnings Per Share (EPS) | $0.38 | $0.30 | +27% | $0.34 | +12% | $0.35 |
Interpreting the above financial performance, The Trade Desk delivered a strong quarter with revenues of $585 million, reflecting a 26% year-over-year increase and a 17% quarter-over-quarter increase. This significant growth outpaced the consensus estimate of $577.8 million. EPS also exceeded expectations at $0.38, compared to the consensus estimate of $0.35 and last year's $0.30, indicating robust profitability improvements.
Key Operational Data:
| Key Operational Metric | Q2 2024 |
|---|---|
| Customer Retention | >95% |
Customer retention remained impressively high at over 95%, maintaining a decade-long streak of strong client retention.
Comments from Company Officers:
Jeff Green, Co-founder and CEO of The Trade Desk, commented, “We’ve made significant strides in CTV, retail media, and identity, empowering the world’s largest brands. With ongoing innovations and growing adoption of UID2, we continue to deliver exceptional value and grow our leadership in high-growth markets like CTV.”
Dividends and Share Repurchase Program:
The Trade Desk did not repurchase any shares in Q2 2024. As of June 30, 2024, the company had $575 million available and authorized for share repurchases.
Forward Guidance:
For the third quarter of 2024, The Trade Desk is projecting: - Revenue of at least $618 million - Adjusted EBITDA of approximately $248 million
(Note: No GAAP Net Income outlook provided due to the variability and complexity of charges.)
Stock Price Movement:
The Trade Desk's stock saw an 11.1% increase following the earnings release, reflecting positive investor sentiment.
In summary, The Trade Desk showcased an impressive second quarter performance with robust growth in revenue and earnings. The strong financial and operational results, coupled with positive forward guidance, have led to a noteworthy increase in its stock price.
