Advertising-technology company Trade Desk Inc. reported better-than-expected earnings for the second quarter, but its stock price declined in after-hours trading. Trade Desk's net income for the quarter was $33 million, or 7 cents per share, compared to a net loss of $19 million, or 4 cents per share, in the same quarter last year.
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
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Coworking firm Common Desk debuts new Irving locationDallas-based coworking firm Common Desk has opened its latest location in Las Colinas. The flexible office space provider has taken 37,500 square feet on two floors of the Canal Centre building at 400 E. Las Colinas Boulevard near State Highway 114. The building is in the Las Colinas Urban Center.
Read more »
A Simpler, Sleeker Japan Inc. Could Reward InvestorsHeard on the Street: Japan’s companies are starting to use their big cash piles to simplify convoluted corporate structures. That could ultimately make them more valuable.
Read more »
Scarlett Johansson to Headline WWD x FN x Beauty Inc Women in Power 2023 EventScarlett Johansson will be the main attraction at the Women in Power 2023 event, organized by WWD x FN x Beauty Inc. The event, which will take place at the Rainbow Room in New York on Sept. 7, will also feature conversations with Alix Earle, Stephanie Linnartz, and Fe, along with the release of the Black Ambition CEO's new book on Sept. 6. The theme of this year's event is 'The Movers, the Makers and the Marketplace Shakers.'
Read more »
Illinois to Ban Advertising for Guns Allegedly Marketed to Kids and MilitantsIllinois plans to prohibit the advertising of guns that are allegedly targeted towards children and militants. The state's Attorney General, Kwame Raoul, highlights the JR-15, a smaller version of the AR-15 rifle, which is promoted with the slogan 'Get 'em One Like Yours.' The manufacturer claims that it is intentionally designed to be smaller and safer for younger shooters under adult supervision. However, Raoul argues that it appeals to children and may encourage them to use the weapon without proper guidance.
Read more »
RTL Group Revenue and Profits Decline Due to Weak AdvertisingLuxembourg-based media giant RTL Group, which owns Fremantle, reported a 5.1% decrease in revenues to €3.1 billion ($3.4 billion) for the first half of 2023. The company's adjusted EBITA was down to €250 million compared to €501 million in the same period last year, and group profit dropped to €132 million, more than 50% lower than €304 million in 2022.
Read more »