The Trade Desk Rockets Higher on Blockbuster Performance -- Is the Stock a Buy?
Over the past several weeks, a number of well-known digital advertisers have reported less than spectacular results, as the macroeconomic headwinds caused many businesses to cut back on their advertising budgets. Facebook parent Meta Platforms suffered its first-ever year-over-year revenue decline, followed in swift succession by Snap and Twitter, which both reported weaker-than-expected revenue growth.
The Trade Desk (NASDAQ: TTD) was up to bat after the market close on Tuesday and investors had similar expectations for weak results -- but the ad tech company proved once again why it's the industry leader.
The Trade Desk reported revenue of $377 million, up 35% year over year, on top of 101% growth in the prior-year quarter. The bottom line was also higher, with adjusted earnings per share (EPS) of $0.20, up 11%. This was enough to meet or beat analysts' consensus estimates, which called for revenue of $364.9 million and adjusted EPS of $0.20.
Source Fool.com
