Trade Desk -6.5% after Q2 beat, raised guidance

|About: The Trade Desk, Inc. (TTD)|By:, SA News Editor

The Trade Desk (NASDAQ:TTD) is pulling back from 6.4% gains today, dipping 6.5% after hours following Q2 earnings where it topped expectations and raised its full-year outlook.

Revenues rose 42% to $159.9M, and net income increased to $27.8M from a year-ago $19.3M.

EBITDA rose to $58M from $36.9M.

Total mobile made up 47% of gross spend, and mobile video spend rose 50% while in-app spend rose 63%.

Pointing to newer channels, connected TV spend grew more than 2.5 times from the prior year, and audio spend grew 270%.

Customer retention remained over 95%.

For Q3, it's guiding to revenue of $163M (above consensus for $161.6M) and EBITDA of $45M. For the full year, it's raising revenue expectations to $653M (up from $645M, and above consensus for $649.8M) and boosting EBITDA forecast to $201M (about 30.8% of revenue), up from $188.5M.

Conference call to come at 5 p.m. ET.

Press release

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