Why Trade Desk Stock Surged 24% This Past Week
Shares of The Trade Desk (NASDAQ: TTD) soared 24% over the past week, according to data provided by S&P Global Market Intelligence, after the advertising technology provider's growth proved resilient despite an industrywide downturn.
Investors cheered Trade Desk's fourth-quarter earnings report released on Wednesday. The adtech platform's revenue jumped 24% year over year to $491 million. Trade Desk's performance was much better than that of its larger rivals Meta Platforms and Alphabet, which both saw their ad sales decline in the fourth quarter.
"I don't think we've ever had the level of industry outperformance in our six years or so as a public company as we did in 2022. And it means that we can be very confident that we're gaining share and that our platform continues to gain traction with advertisers," said CEO Jeff Green during a conference call with analysts.
Source Fool.com
