The Trade Desk Inc. (NASDAQ:TTD) posted its first-quarter results after Thursday’s closing bell, missing the consensus earnings estimate. Here's a look at the details inside the report.
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The Trade Desk Q1 Details
The Trade Desk reported first-quarter adjusted earnings of 28 cents per share, which missed the Street estimate of 32 cents, according to Benzinga Pro data.
Quarterly revenue of $688.86 million beat the analyst consensus estimate of $679.2 million.
Customer retention remained over 95% during the first quarter.
“Q1 was another strong quarter for The Trade Desk, with revenue growing to $689 million, representing 12% year-over-year growth,” said Jeff Green, CEO of The Trade Desk.
“We’re encouraged by the impact of the strategic upgrades we’ve been making across the company, which contributed to our outperformance in Q1. Despite headwinds in the macro environment, we remain confident in our ability to lead and innovate within the programmatic ecosystem,” Green added.
Outlook
The Trade Desk expects second-quarter adjusted EBITDA of approximately $260 million and revenue of at least $750 million.
TTD Stock Price: According to data from Benzinga Pro, The Trade Desk stock was down 14.23% to $20.06 in Thursday's extended trading.
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