Q2 23 EPS
$0.28
BEAT +7.69%
Est. $0.26
Q2 23 Revenue
$464.3M
vs S&P Since Q2 23
-130.6%
TRAILING MARKET
TTD -69.0% vs S&P +61.6%
Market Reaction
Did TTD Beat Earnings? Q2 2023 Results
The Trade Desk posted a solid beat in Q2 2023, with non-GAAP earnings of $0.28 per diluted share clearing the $0.26 consensus estimate by 7.69%, as revenue climbed 23.2% year over year to $464.25 million. The company also swung to GAAP net income of … Read more The Trade Desk posted a solid beat in Q2 2023, with non-GAAP earnings of $0.28 per diluted share clearing the $0.26 consensus estimate by 7.69%, as revenue climbed 23.2% year over year to $464.25 million. The company also swung to GAAP net income of $32.94 million, compared to a net loss of $19.07 million in the same period a year ago, reflecting stronger operational leverage as higher revenue flowed through an increasingly efficient cost structure. A key driver of the quarter was momentum behind Kokai, the company's AI-powered next-generation platform, alongside continued expansion of Unified ID 2.0, which attracted new integrations from Warner Bros. Discovery, Walmart Connect, and NBCUniversal. Adjusted EBITDA reached $179.57 million, representing a 39% margin, up from 37% a year earlier. Looking ahead, management guided Q3 2023 revenue to at least $485.00 million with adjusted EBITDA of approximately $185.00 million, signaling continued confidence in demand trends across connected TV and retail media channels.
Key Takeaways
- • 23% year-over-year revenue growth to $464 million
- • Customer retention over 95% for nine consecutive years
- • Advances in CTV, retail media, and identity solutions
- • Adjusted EBITDA margin expansion to 39% from 37% year-over-year
- • Non-GAAP diluted EPS of $0.28 vs $0.20 in Q2 2022
TTD YoY Financials
Q2 2023 vs Q2 2022, source: SEC Filings
“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.”
— Jeff Green, Q2 2023 Earnings Press Release
TTD Earnings Trends
TTD vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
TTD EPS Trend
Earnings per share: estimate vs actual
TTD Revenue Trend
Quarterly revenue: estimate vs actual
TTD Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 BEAT FY | $0.34 | $0.59 | +73.58% | $846.8M | — |
| FY Full Year | $1.76 | $1.77 | +0.52% | $2.90B | +0.25% |
| Q3 25 BEAT | $0.44 | $0.45 | +1.86% | $739.4M | +2.79% |
| Q2 25 MISS | $0.41 | $0.41 | -0.92% | $694.0M | +1.17% |
| Q1 25 BEAT | $0.25 | $0.33 | +33.23% | $616.0M | +7.08% |
| Q4 24 BEAT FY | $0.57 | $0.59 | +3.60% | $741.0M | — |
| FY Full Year | — | $1.66 | — | $2.44B | — |
| Q2 23 BEAT | $0.26 | $0.28 | +7.69% | $464.3M | — |