The Trade Desk saw its revenues climb by a quarter year-on-year to US$493 million (AU$775 million) despite challenges with the American automotive market and Writers and Actors Strikes.
“Q3 was a strong quarter for The Trade Desk,” said Jeff Green, the firm’s CEO and co-founder.
“This performance underlines the premium that advertisers are placing on precision, agility and transparency as they seek to maximize returns from their campaigns”.
Change is afoot in the digital advertising industry, a fact which should benefit The Trade Desk in the quarters to come. Its Unified ID 2.0 is growing in support and brands including HP, Warner Bros. Discovery and Walmart Connect have come on board.
Its Open Path Supply Path Optimisation initiative is now live with “dozens” of publishers, representing more than 11,000 destinations across connected TV, mobile, display and audio.
“As we enter our busiest time of year and look ahead to 2024, we have never been in a better position to capture greater share of the US$1 trillion (AU$1.57 trillion) advertising TAM. With the generational shift to CTV, the growing opportunity in shopper marketing, our leadership in identity, and our most important product release ever with Kokai, we are better positioned than ever to help advertisers leverage data to drive growth and differentiate their brands,” added Green.
However, the firm issued lower Q4 revenue guidance than analysts expected, which saw its share price plunge by some 30 per cent in after-hours trading.
For the December period, The Trade Desk projected revenue of at least US$580 million (AU$911 million), trailing the US$610 million (AU$959 million) that was expected by analysts, according to LSEG.
A Trade Desk spokesperson told CNBC that guidance came “in slightly below consensus, largely because the transitory cautiousness from advertisers in certain verticals, such as U.S. auto and media/entertainment due to the strikes”.
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