"We continue to win more share of our clients' advertising budgets as they increasingly prioritize platforms like the Trade Desk that deliver high-value results, especially in premium video and connected TV," CFO Laura Schenkein said on the company's Q3 earnings call.
The Trade Desk's revenue grew 27% year over year through the first three quarters of 2024, an acceleration over last year's 23% growth rate, showcasing its strong position in digital advertising.
Connected TV (CTV) ad spending is one of the fastest-growing segments of the digital ad market, positioning The Trade Desk to benefit significantly as advertisers shift to digital media.
Despite strong growth, The Trade Desk's current price-to-earnings (P/E) ratio exceeds 200, indicating the stock may be overvalued, raising concerns about future growth justifying this premium.
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