Trade Desk reported first-quarter earnings and revenue that topped consensus estimates as internet TV drove the digital advertising firm's growth. The company's guidance for Trade Desk stock came in slightly above expectations.
Reported after the market close on Wednesday, Trade Desk earnings came in at 26 cents a share, up 13% from a year earlier. Revenue climbed 28% to $491 million, the company said.
A year earlier, Trade Desk earnings were 23 cents a share on sales of $383 million. TTD stock analysts expected earnings of 22 cents a share on sales of $480 million, according to FactSet.
Trade Desk Stock: Revenue Outlook
The Ventura, Calif.-based company said earnings before interest, taxes, depreciation and amortization (EBITDA) rose 48% to $162 million. Analysts earlier estimated EBITDA of $133 million.
On the stock market today, TTD stock rose 1.5% to 87.31 in early trading.
For the current June-ending quarter, Trade Desk said it expects revenue of $575 million at the midpoint of guidance, topping estimates of $567 million.
Trade Desk forecast EBITDA of $223 million versus Wall Street's consensus estimate of $219 million.
"Offering the largest internet TV inventory marketplace in the industry, Trade Desk provides advertisers unmatched access to premium content across major networks and global ad-supported streaming services," said BMO Capital Markets analyst Brian Pitz in a report.
Heading into the Trade Desk earnings report, TTD stock had advanced 21% in 2024 and 40% from a year ago.
Trade Desk stock holds a relative Strength Rating of 88 out of a best possible 99, according to IBD Stock checkup.
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