Trade Desk Shares Soar on Strong Q4 Outlook Backed by Data-Driven Choices

By Benzinga
Benzinga
Benzinga
November 9, 2021 Updated: November 9, 2021

The Trade Desk Inc. (TTD) reported third-quarter FY21 revenue growth of 39 percent year-on-year to $301.1 million, beating the consensus of $283.5 million.

Customer retention remained over 95 percent, akin to the past seven years, and the adjusted EBITDA margin expanded by 500 bps to 41 percent.

Non-GAAP EPS of $0.18 beat the consensus of $0.15.

Trade Desk generated $215.1 million in operating cash flow during the nine months ended Sept. 30 and held $798.6 million in cash and equivalents.

“The world’s leading brands and agencies are increasingly using our platform to apply data-driven strategies to drive precision and value across their campaigns,” CEO Jeff Green said.

More data-driven choices by advertisers led to a record third-quarter revenue of $301.1 million and adjusted EBITDA of $122.7 million.

Outlook

The Trade Desk sees Q4 revenue of $388 million, above the consensus of $386.7 million.

Price action

TTD shares traded higher by 29.5 percent at $88.77 on the last check Monday.

By Anusuya Lahiri

© 2021 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.

Benzinga