Trade Desk Stock Surges 30% On Strong Quarterly Results, Upbeat Revenue Outlook

Shares of Trade Desk Inc. (TTD) are surging over 30% on Wednesday morning after the company reported strong revenue growth in the second quarter and issued an upbeat revenue outlook for the current quarter.

TTD is currently trading at $71.08, up $16.58 or 30.42%, on the Nasdaq.

Looking forward to the third quarter, the company expects revenue of at least $385 million. Analysts currently estimate revenues of $382.58 million.

Second-quarter revenues rose to $377 million from $280 million. The company reported loss of $19 million or $0.04 per share, compared to net income of $48 million or $0.10 per share last year.

Adjusted earnings for the quarter were $99 million or $0.20 per share, up from $88 million or $0.18 per share last year. Analysts polled by Thomson Reuters estimated earnings of $0.20 per share for the quarter.

"We delivered outstanding performance in the second quarter, growing 35% versus a year ago, significantly outpacing worldwide programmatic advertising growth. More of the world's 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," said Jeff Green, Co-Founder and CEO of The Trade Desk.

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