The Trade Desk Inc. (NASDAQ:TTD) posted its second-quarter results after Thursday’s closing bell, missing analyst estimates on the top and bottom lines.
Here’s a look at the details inside the report.
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The Trade Desk Q2 Details
The Trade Desk (reported quarterly earnings of 34 cents per share, which missed the consensus estimate of 40 cents by 15%, according to Benzinga Pro data.
Quarterly revenue came in at $715.06 million, which missed the Street estimate of $751.39 million.
Customer retention remained over 95% during the second quarter.
“This quarter did not meet the standard we set for ourselves, but it has reinforced our belief that we are focused on the right opportunities for the future,” said Jeff Green, CEO of The Trade Desk.
“Marketers are navigating a complex environment, but complexity increases the value of decisioning, measurement and AI. We have a clear understanding of the factors that impacted our performance, and we are taking decisive action to strengthen our execution, upgrade our platform, and sharpen our focus on the areas where we can create the greatest value,” Green added.
Looking Ahead
The Trade Desk expects third-quarter revenue to be more than $650 million, versus the $805.09 million analyst estimate.
TTD Stock Price Activity: According to data from Benzinga Pro, The Trade Desk stock was down 23.20% to $13.54 in Thursday’s extended trading.
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