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Mar 31, 2023
Trade Desk Q1 2023 Earnings Report
The Trade Desk outperformed the digital advertising market, growing revenue and reporting positive net income.
Key Takeaways
The Trade Desk reported strong first quarter results, with revenue growing 21% year-over-year to $383 million. The company's performance was driven by the increasing value that marketers place on data-driven media buying on the open internet. The Trade Desk is well positioned to deliver premium value to its clients and gain share.
Revenue increased by 21% year-over-year to $383 million.
Customer retention remained over 95%.
Net income was $9 million, with diluted earnings per share of $0.02.
The company repurchased $293 million of Class A common stock.
Trade Desk
Trade Desk
Forward Guidance
The Trade Desk expects revenue of at least $452 million and Adjusted EBITDA of approximately $160 million for the second quarter of 2023.
Positive Outlook
- Revenue at least $452 million
- Adjusted EBITDA of approximately $160 million
- Shift from linear to connected TV continues to accelerate
- Fully decisioned programmatic will feature more prominently than ever at this year’s upfronts
- More leading marketers are leveraging new innovations, such as shopper data, to better understand the relationship between campaign activity and consumer action