The Trade Desk reported a 27% revenue increase to $628 million, surpassing expectations, yet the stock fell 6.9% due to high valuation concerns from investors.
CEO Jeff Green remarked, 'As we enter our business time of year and look ahead of 2025, we have never been in a better position to capture greater share of the $1 trillion advertising [total addressable market].'
Despite the drop in stock price, The Trade Desk's customer retention remains above 95%, with a strong operating income increase emphasizing its competitive position in the ad tech space.
The company anticipates at least $756 million in revenue for the fourth quarter, indicating continued robust growth, despite challenges tied to its high valuation in the market.
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