The Trade Desk, Inc. (NASDAQ: TTD) reported financial results for the third quarter. Revenue for the third quarter was USD 164.2 Million, an increase from a year prior of USD 118.8 Million. Year over year, revenue increased a total of 38%. Net income reached USD 19.4 Million for the third quarter.
“We again delivered outstanding performance in the third quarter. Revenue growth of 38% significantly outpaced worldwide programmatic advertising growth. The world’s leading brands and agencies are increasingly using our platform to apply data-driven strategies to drive precision and value across their campaigns,” said Jeff Green, founder and CEO of The Trade Desk. “More data-driven choices by advertisers led to record revenue of $164.2 million and net income of $19.4 million in Q3. Connected TV, audio and mobile led our channel growth. TV advertising is the largest campaign segment for many leading brands, and the digitization of TV is driving advertisers to apply data to TV ad campaigns for the first time. As more broadcasters make their content available via streaming services, we are better positioned than anyone to take advantage of this significant shift.”
Mr. Green Commented on Q4 and the Revision of FY 2019’s Outlook: “The biggest brands in the world continue to shift their advertising spending to programmatic on our platform. As a result, we are raising our 2019 revenue guidance to at least $658 million. At the same time, we continue to generate profitability and make large investments in areas critical to our future. We now expect our adjusted EBITDA to be $209 million for 2019. The secular tailwind of programmatic is strong. Our focus is on gaining share and revenue growth as this will ultimately maximize profitability over the long-term.”
For the fourth quarter revenue is expected to be USD 213 Million with an adjusted EBITDA of USD 78.5 Million. For the full year 2019, revenue is expected to reach USD 658 Million, an increase from previous projection of USD 653 Million. Adjusted EBITDA for FY 2019 is expected to sum up to USD 209 Million (31.8% of revenue), an increase from USD 201 Million.