Market Share Gains Drive The Trade Desk's Continued Growth
Expectations were high going into The Trade Desk's (NASDAQ: TTD) second-quarter financial report. The company has been on a tear so far in 2019, soaring 134% since the start of the year. Investors were hoping the programmatic advertising specialist would continue the torrid pace of revenue growth that propelled its stock to recent all-time highs, and the company did not disappoint.
In its Thursday release, The Trade Desk reported revenue of $159.92 million, up 42% year over year, meeting analysts' consensus estimates and easily surpassing management's forecast of $154 million, though the company has historically been conservative with its guidance.
Profits were similarly robust. The Trade Desk generated adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) of $58 million, smashing management's expectations of $46 million. This resulted in adjusted earnings per share (EPS) of $0.95, soaring past analysts' consensus estimates of $0.69.
Source Fool.com
