Trade Desk (NASDAQ:TTD) shares have suffered a steep year-long selloff in the market, with the stock down 80% over the past year.
The Trade Desk Misses EPS and Revenue Targets
On Thursday, the company reported second-quarter earnings of 34 cents per share, below the consensus estimate of 40 cents. Revenue came in at $715.06 million versus $751.39 million expected. Customer retention stayed above 95%.
- CEO Jeff Green reiterated Trade Desk’s focus on decisioning, measurement and AI.
- The company expects third-quarter revenue to exceed $650 million, below the analyst estimate of $805.09 million.
- Shares fell more than 24% in extended trading after the release.
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Traders Trim Positions Before the Print
Before the earnings announcement, shares were already under pressure. The company’s Q2 results were due after Thursday’s close, and traders reduced exposure ahead of the report.
Trade Desk rolled out initiatives including Koa Agents and OpenTTD to expand media planning and analytics tools. The pre-earnings dip tracked investor caution going into the print.
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