The Trade Desk delivers $464 million in revenue and 23% growth “outstanding” in Q2

the trade desk

Jeff Green: “I’m confident we will continue to gain share, especially in key growth markets such as CTV”

The Trade Desk, Inc. has announced financial results for its second quarter ending on June 30, 2023.

Jeff Green, co-founder and CEO of The Trade Desk, celebrated the global technology platform’s Q2 delivery of $464 million in revenue and 23% growth “outstanding”.

Green said: “Q2 marked another quarter of outstanding execution and share gains for The Trade Desk, delivering $464 million of revenue and 23% growth. With advances in areas such as CTV, retail, and identity, we are helping the world’s largest brands buy media on the open internet with more precision and transparency than ever.”

“With the launch of Kokai, we are surfacing that value more intuitively and putting data next to every decision. We are helping our clients put their first-party data to work, we’re making it easier for partners to integrate with us, and we’re helping clients get the full value of AI as a co-pilot across many aspects of the campaign process. As a result of these innovations, I’m confident we will continue to gain share, especially in key growth markets such as CTV,” he added.

The platform also noted strong customer retention as a highlight of Q2. Customer retention remained over 95% during the second quarter, as it has for the past nine consecutive years according to the company

The Trade Desk also highlighted building support for Unified ID 2.0 (UID2), an industry-wide approach to identity that preserves the value of relevant advertising, while putting user control and privacy at the forefront. UID2 is an upgrade and alternative to third-party cookies.

Recent partnerships and pledges of integration and support include:

Warner Bros. Discovery announcing integration with UID2 across its premium entertainment, sports, news and lifestyle brands with its digital platforms, including Max and Discovery+.
Walmart Connect announced it is testing the integration of UID2 to inform decisioning across the open internet within the Walmart DSP.
EUID, the European counterpart to UID2 specifically developed for the European market, is gaining support across Europe from brands, publishers, and retailers. Initial industry engagement includes Bacardi, Kimberly-Clark, Aller Media, Future, OneFootball, Prisma Media, Tesco, and others.
At Forward ’23: Always On, NBCUniversal announced it is implementing UID2 on Peacock across all devices and consumer touchpoints, including on CTV, the web, apps and devices.

The Trade Desk also noted the impact of OpenPath with their clients by providing them with a simplified, direct connection to participating premium publishers across the open internet.

The report shared that OpenPath is already live with dozens of publishers representing over 11,000 destinations across connected TV, mobile, display and audio.

The Trade Desk also repurchased $44 million of its Class A common stock in Q2, and as of June 30, 2023, the company has $364 million available and authorized for repurchases.

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