The Trade Desk Reports Solid Third Quarter 2024 Financial Results
The Trade Desk, Inc., a global technology platform for ad buyers, announced its financial results for the third quarter ended September 30, 2024.
Key Financial Metrics
| Metric | Q3 2024 | YoY Change | Consensus Estimate |
|---|---|---|---|
| Total Revenue | $628 million | +27% | $619.85 million |
The Trade Desk exceeded Wall Street consensus estimates for the third quarter with revenue reaching $628 million, demonstrating a 27% year-over-year growth. The strong revenue performance highlights the company's robust capability in enhancing advertisers' campaign impacts through technology focused on precision and transparency.
Key Developments and Operational Highlights
- Customer Retention: Achieved over 95% customer retention for the tenth consecutive year.
- Unified ID 2.0 Integrations: Enhanced industry collaboration with companies like Spotify, Roku, and Reach to support privacy-oriented advertising solutions.
- Recognition: The company earned accolades, including Best CEO and Most Honored Company from Institutional Investor Awards.
Comments from Company Officers
CEO Jeff Green highlighted, 'Our growth momentum, especially in the Connected TV (CTV) and retail media sectors, reflects our unique positioning in the trillion-dollar advertising market. The success of our recently upgraded Kokai platform is evident as it enables audience-driven, AI-enhanced advertising innovations.'
Share Repurchase Program
The Trade Desk repurchased $54 million of its Class A common stock during the quarter. As of the quarter's end, there was $521 million available for future repurchases.
Forward Guidance
For the fourth quarter of 2024, the company anticipates at least $756 million in revenue and an Adjusted EBITDA of approximately $363 million. The outlook for GAAP net income remains undisclosed due to variable factors like stock-based compensation.
Stock Price Movement
Following the earnings release, The Trade Desk’s stock experienced a significant positive adjustment, with a 6.19% increase in after-event trading.
This report illustrates The Trade Desk's strong financial performance and strategic expansions, positioning it favorably for future growth.
For more in-depth analysis and insights, stay tuned with our platform to stay ahead of the market.
