The Trade Desk’s total revenue for Q3, 2024 grew by 27% to $628 million from $493 million in Q3, 2023, according to the company’s third quarter financial reports. The company further stated that this growth beat the analyst expectation of $619.85 million. Furthermore, the company reported a net income of $94 million in Q3, 2024, up from $39 million in Q3, 2023, showcasing an year-over-year growth of 141%. The adjusted earnings per share (EPS) for Q3 came in at $0.41.
Additionally, the company stated that customer retention remained over 95% for the quarter. The company also highlighted the impact of its retail data marketplace, citing a 187% increase in sales for Kellogg’s key brands due to a CTV campaign on The Trade Desk’s platform.
“The Trade Desk delivered strong performance in the third quarter, with revenue of $628 million, accelerating growth to 27%. This performance underlines the value that advertisers are placing on precision and transparency as they work with us to maximize the impact of their campaigns. As we enter our busiest time of year and look ahead to 2025, we have never been in a better position to capture greater share of the $1 trillion advertising TAM. 2024 has been a banner year for CTV. Many of the largest media companies are now working with us to help clients capture the full value of CTV advertising via programmatic,” Jeff Green, co-founder and CEO, The Trade Desk, said.
The Trade Desk also repurchased $54 million of its Class A common stock in Q3, 2024, and issued guidance for Q4, projecting revenue of at least $756 million and an EBITDA of approximately $363 million. CEO Jeff Green noted that 2024 has been a landmark year for Connected TV (CTV) advertising, with the company in a prime position to capture a larger share of the $1 trillion global advertising market.