The Trade Desk jumps 14% as revenues, outlook top expectations
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The Trade Desk (NASDAQ:TTD) shot 14.3% higher postmarket Tuesday after topping revenue expectations with its second-quarter earnings and guiding to another beat in the current quarter.
Revenues grew 35% to $377M. Operating expenses, though, jumped 72% to $375.2M - that included a 177% increase in stock-based compensation - and, providing for income taxes, the company swung to a net loss of $19.1M from a year-ago gain of $47.7M.
Accounting for the stock-based comp and other excluded expenses meant earnings before interest, taxes, depreciation and amortization was $138.9M, in line with expectations.
The company guided to third-quarter revenue of $385M, topping consensus for $382.3M, and expects earnings before interest, taxes, depreciation and amortization of about $140M.
"More of the worldâs leading brands are signing major new or expanded long-term agreements with The Trade Desk, which speaks to the innovation and value that our platform provides compared to the limitations of walled gardens,â said CEO Jeff Green. âThis trend also gives us confidence that we will continue to gain market share in any market environment."
Cash and equivalents at quarter-end came to $932.7M, vs. $754.2M as of Dec. 31.
Conference call to come at 5 p.m. ET.