The Trade Desk (NASDAQ:TTD) shares dropped more than 5% after-hours despite the company reporting better-than-expected Q2 earnings and guidance.
EPS came in at $0.28, compared to the consensus estimates of $0.26. Revenue grew 23% year-over-year to $464 million, beating the consensus estimate of $454.71M. Customer retention remained over 95% during Q2, as it has for the past nine consecutive years.
“With advances in areas such as CTV, retail and identity, we are helping the world’s largest brands buy media on the open internet with more precision and transparency than ever. With the launch of Kokai, we are surfacing that value more intuitively and putting data next to every decision,” said CEO Jeff Green.
For Q3/23, the company expects revenue of at least $485M, above the consensus estimate of $479.61M. Adjusted EBITDA is expected to be approximately $185M.