The Trade Desk stock soars on Q2 earnings beat, revenue growth

Shares of The Trade Desk (TTD) are soaring after the company beat second quarter estimates on both the top and bottom lines. The ad tech company reported revenue grew 26% year-over-year in the second quarter.

Market Domination Hosts Josh Lipton and Madison Mills dig into the earnings report and how its partnerships have contributed to its overall growth.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination.

This post was written by Melanie Riehl

Video transcript

We're gonna do a check in now on some of today's top trending takers again, I'm gonna kick it off with shares of trade desk.

You're looking at gains of over 12% after the company topping estimates on both the top and bottom line.

Well, its outlook also pleasing to Wall Street clearly if you're looking at that stock reaction as a reminder, this is the ad tech company reporting these results that beat expectations.

Interesting that uh Morgan Stanley, in particular, highlighting the company's ability to execute and quote consistently outperform.

They also talked about the company's partnerships with Netflix and Fox demonstrating their ability to kind of lead in the broader space.

Even Jeffries is highlighting not just Netflix but also Roku as a partnership that has been material in terms of contributors to their earnings throughout 2024.

Also mentioning that that could be a catalyst for budget shifting into programmatic C TV in 2025 moving forward.

But I I think just in terms of the story behind this stock, it's just interesting given the pressure that's been on this broader sector, the the performance that they've been able to pull out and I guess the street is saying that that's partially due to these successful partnerships is interesting.

Yeah, Yusuf Scully over tru us.

He's a smart guy.

Uh Yusuf telling his clients that Cy's execution remains exceptional amid a volatile digital ad environment.

Talks about what he sees as a large and compelling tm Total addressable market says it remains one of his favorite names for 2024 which is not an unusual opinion.

Most analys on the street, nearly 80% say this one still a back.