The Trade Desk delivered Q3 revenue of $628 million, an increase of 27% from the same period last year, and its non-GAAP earnings jumped 24% to $0.41 per share, outpacing expectations.
Despite better-than-expected numbers and solid guidance, The Trade Desk's stock dipped more than 5% following its Q3 results, highlighting valuation concerns impacting investor sentiment.
The digital advertising market is forecast to generate almost $668 billion in revenue in 2024, with spending on ads expected to hit $871 billion by 2027.
CEO Jeff Green emphasized that CTV advertising is The Trade Desk's fastest-growing channel, with partners like Disney and Roku enhancing their relationships with the company, driving strong growth.
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