The Trade Desk Reports Strong Q1 Results, Upbeat Forecast
Portfolio Pulse from Erica Kollmann
The Trade Desk, Inc. (NASDAQ:TTD) reported Q1 earnings of 26 cents per share, surpassing analyst estimates of 21 cents, with sales of $491.25 million beating estimates of $480.31 million, a 28.33% year-over-year increase. The company also repurchased $125 million of its Class A common stock and forecasts Q2 revenue of at least $575 million with adjusted EBITDA of approximately $223 million. Shares rose 1.37% after-hours to $87.20.
May 08, 2024 | 9:38 pm
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The Trade Desk reported strong Q1 results, beating earnings and sales estimates, and provided an upbeat Q2 forecast. The company also repurchased $125 million of its stock.
The Trade Desk's Q1 performance exceeded expectations with significant year-over-year sales growth and earnings per share beating estimates. The positive outlook for Q2 and the substantial stock repurchase program reflect strong financial health and growth prospects, likely leading to increased investor confidence and potentially higher stock prices in the short term.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100