Trade Desk TTD logged second-quarter net income of $33 million, or 7 cents a share, whereas it posted a net loss of $19 million, or 4 cents a share, in the year-prior quarter.Trade Desk TTD logged second-quarter net income of $33 million, or 7 cents a share, whereas it posted a net loss of $19 million, or 4 cents a share, in the year-prior quarter.
The company recorded adjusted earnings per share of 28 cents, compared with 20 cents in the year-earlier period. Analysts tracked by FactSet were expecting 26 cents.Don’t miss: Trade Desk nabs Nasdaq-100 index inclusion The second quarter “marked another quarter of outstanding execution and share gains for the Trade Desk,” Chief Executive Jeff Green said in a release. “With advances in areas such as [connected TV], retail and identity, we are helping the world’s largest brands buy media on the open internet with more precision and transparency than ever.
For the third quarter, Trade Desk expects at least $485 million in revenue, while analysts were anticipating $481 million. The company also models $185 million in adjusted earnings before interest, taxes, depreciation and amortization, whereas analysts had been looking for $183 million. Trade Desk results come as large advertising agencies have sent cautious signals this earnings season. Streaming company Roku Inc. ROKU , meanwhile, blew past revenue expectations for its own second quarter but signaled a challenging spending landscape for media and entertainment advertisers.Read: Tech stocks look strong, but here’s a sign the sector is actually under a lot of stress
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