The Trade Desk has released financial results for its first quarter, ending 31 March 2024.
Jeff Green, co-founder and CEO of The Trade Desk described the quarter as “strong,” with a delivery of $491 million in revenue, recording growth of 28% year-on-year.
“Our outstanding performance to start the year underlines the value advertisers are placing on premium inventory on the open internet,” Green said.
“With the continued strong growth of CTV, the growing ubiquity of UID2, new approaches to authentication, greater deployment of first-party data and retail data, and with significant AI advances in our Kokai platform, we are better positioned than ever to deliver premium value to advertisers and continue to gain market share.”
The Trade Desk has now grown more than 20% in each of the last nine quarters, and customer retention remained over 95% during the first quarter – as it has for the past ten consecutive years.
Adjusted EPS came in at $0.26.
$ in millions, except per share amounts
Looking ahead, Q2 results are predicted to record revenue at least $575 million, and adjusted EBITDA of approximately $223 million.
Q1 Business Highlights
Connected TV (CTV)
Recent CTV updates from The Trade Desk include notable news from Disney, NBCUniversal, and Roku.
Disney: An expanded partnership with The Trade Desk with Disney Advertising’s Real-Time Ad Exchange (DRAX) Direct via a direct integration with OpenPath to meet advertiser demand at scale.
NBCUniversal: The 2024 Paris Olympic Games inventory on Peacock will be available to buy programmatically via The Trade Desk.
Roku: Has plans to empower advertisers using The Trade Desk with the ability to leverage Roku Media and audience and behavioral data, so brands can better understand and optimise their campaigns.
Unified ID 2.0
The Trade Desk has been working on building support for Unified ID 2.0 (UID2), an upgrade and alternative to third-party cookies. Recent partnerships and pledges of integration and support include:
Times Internet: An Indian digital media conglomerate home to brands such as Times of India, Economic Times, and GadgetsNow, has become the first digital partner in India to adopt UID2.
DISH Media: In January committed to the adoption of UID2 across its suite of traditional TV and OTT services including DISH TV and Sling TV.
Lotame: Data provider that announced its adoption of UID2 to help enable cross-channel data interoperability.
TF1 and M6: Two of the largest broadcasters in France, announced their adoption of EUID to help their advertisers run effective campaigns with improved targeting capabilities.
See Also: The Trade Desk: Two-thirds of Aussie ad budgets wasted on disengaged online platforms