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Shares of The Trade Desk fell almost 40% on Friday and headed for their worst day on record. The ad-tech company reported better-than-expected results for the second quarter, but analysts are increasingly concerned about competition from Amazon.
CNBC's Julia Boorstin joins 'Squawk on the Street' with the latest news on Trade Desk.
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Shares of The Trade Desk (TTD -39.17%) were taking a dive for the second time in three earnings reports today. The leading independent demand-side platform (DSP) in adtech posted results that were in line with expectations, but its guidance confirmed that competition was becoming more of a threat to the business. As a result, several Wall Street analysts downgraded the stock this morning, and shares were down 38.1% as of 10:08 a.m. ET. The second-quarter results weren't bad. Revenue rose 19% to $694 million, which topped the consensus at $686 million. The company touted progress in several channels, including connected TV, retail media, and supply chain optimization, and its Kokai AI platform is being adopted by its customers. On the bottom line, adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 12% to $271 million, and adjusted earnings per share increased from $0.39 to $0.41, which matched estimates. The Trade Desk's results make it clear that its
Why did Trade Desk Inc.‘s (NASDAQ:TTD ) strong quarterly performance fail to impress investors, sending its stock plummeting? As analysts weigh in, the results reveal a deeper narrative about the company's future growth prospects and market position.
U.S. equities were higher in recent trading, with the Nasdaq on track to set another record closing high, as more companies posted solid earnings. The Dow and S&P 500 were higher as well.
TTD slides 30% pre-market despite strong revenue growth and CTV momentum, as Q2 EPS misses estimates by 2.4%.
Cloud-based stock Trade Desk Inc (NASDAQ:TTD) is taking a nose dive today, last seen down 39.2% to trade at $53.68, after the company posted a second-quarter earnings miss and slower revenue growth, though revenue exceeded expectations.
The Trade Desk (TTD) gave all of its gains it made since May's earnings after releasing its latest report late Thursday. Sam Vadas points to a barrage of information dragging the stock lower, from tariff impacts to a new CFO being appointed to the company.
Shares of Trade Desk Inc (NASDAQ:TTD) tumbled 38% on Friday morning after the digital advertising technology company posted better-than-expected second-quarter revenue but issued cautious guidance and faced renewed scrutiny over intensifying competition, particularly from Amazon. The company reported second-quarter revenue of $694 million, beating analysts' expectations of $684 million and marking a 19% year-over-year increase.