The Trade Desk Inc (NASDAQ: TTD) stock price fell 4.92% today, extending yesterday’s slide following the release of the company’s second quarter and H1 results. The company revealed that its revenues for Q2 2023 were $464 million, marking a 23% improvement from the $377 million recorded in a similar period last year.
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The company provides a global technology platform for buyers of advertising and noted that its customer retention levels remained high after it retained over 95% of its clients during the review period. The high retention rate has remained the same for nine years, indicating that its customers love its services.
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The company also highlighted its continued Collaboration and Support for Unified ID 2.0: The Trade Desk is building support for Unified ID 2.0 (UID2), an industry-wide approach to identity that preserves the value of relevant advertising while putting user control and privacy at the forefront.
UID2 is a viable alternative to an upgrade from third-party cookies. The company has signed recent partnerships with Warner Bros. Discovery, which announced the integration with UID2 across its premium entertainment, sports, news and lifestyle brands with its digital platforms, including Max and Discovery+.
The Trade Desk also updated its guidance for Q3 2023 to generate revenues worth $485 million, with adjusted EBITDA of approximately $185 million.
Jeff Green, The Trade Desk’s Co-founder and CEO, said: “Q2 marked another quarter of outstanding execution and share gains for The Trade Desk, delivering $464 million of revenue and 23% growth. With advances in areas such as CTV, retail and identity, we are helping the world’s largest brands buy media on the open internet with more precision and transparency than ever. With the launch of Kokai, we are surfacing that value more intuitively and putting data next to every decision. We are helping our clients put their first-party data to work, we’re making it easier for partners to integrate with us, and we’re helping clients get the full value of AI as a co-pilot across many aspects of the campaign process. As a result of these innovations, I’m confident we will continue to gain share, especially in key growth markets such as CTV.”
Trade Desk (TTD) stock price.
The Trade Desk (TTD) stock price fell 4.92%, extending yesterday’s slide on Q2 2023 results.
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.