- The Trade Desk (NASDAQ:TTD) is 5.1% lower in what looks like another sell-the-news reaction after its Q2 earnings topped expectations and the company issued upside guidance for Q3.
- Revenues doubled the total from Q2 last year, hitting $280 million, and net income nearly doubled, to $47.7 million on a GAAP basis, and to $88.2 million non-GAAP (from $44.8 million).
- Adjusted EBITDA meanwhile jumped to $117.9 million from a year-ago $14.6 million, with margin going to 42% from 10%.
- And the company called out Connected TV front ant center in its remarks: "Our growth speaks to The Trade Desk’s position as the default (demand-side platform) for the open internet," says founder/CEO Jeff Green. "Nowhere is this more apparent than in Connected TV, as more premium streaming inventory becomes available to meet growing marketer demand for data-driven TV advertising."
- He also pointed to "robust" international growth for the quarter.
- Customer retention was once again over 95% in Q2.
- Cash and equivalents came to $476.9 million as of quarter-end, vs. $437.3 million as of Dec. 31.
- Conference call to come at 11:30 a.m. ET.