The Trade Desk Q4 preview: Modest beat expected but all eyes on year ahead
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The Trade Desk (NASDAQ:TTD) is scheduled to announce Q4 earnings results on Wednesday, February 15th, before market open.
The company reported third-quarter results that topped expectations, but its outlook for the fourth quarter fell short of Wall Street estimates.
For Q4, it expects sales to be at least $490M and adjusted EBITDA of approximately $229M. The consensus EPS Estimate is $0.36 (-14.3% Y/Y) and the consensus Revenue Estimate is $491.81M (+24.3% Y/Y).
Over the last 3 months, EPS estimates have seen 0 upward revisions and 1 downward. Revenue estimates have seen 1 upward revision and 6 downward.
RBC Capital Markets expects a more in-line revenue in the quarter with continued strength in adjusted EBITDA as headwinds increased in December. It is more positive about 2023, citing potential drivers such as the potential for a larger total addressable market, growth and durability of retail media, and regulatory challenges around Google.
Wells Fargo analyst Brian Fitzgerald also suggested that Trade Desk (TTD) could be a beneficiary of a "pattern of conduct against advertiser interests," following news that Google is facing a second major antitrust suit from the federal government.
A recent SA contributor preview also suggested Trade Desk is not expected to miss earnings expectations, and the stock's current valuations are still reasonably attractive.
Shares have dropped around -36% in the past 12-month period, well behind the S&P 500.

Over the last 2 years, TTD has beaten EPS estimates 100% of the time and has beaten revenue estimates 100% of the time.