The Trade Desk, Inc. (NASDAQ:TTD) shares rose more than 12% on Friday after the company reported strong second-quarter results and issued optimistic guidance for the upcoming quarter, reflecting increased demand in the digital advertising sector. The company expects Q3 revenue to reach at least $618 million, surpassing analyst expectations of $604.5 million.
For the second quarter, The Trade Desk posted adjusted earnings of $0.39 per share on revenue of $585 million, both figures exceeding Wall Street estimates of $0.36 per share and $578.03 million in revenue.
The company also highlighted its strong customer loyalty, with retention rates remaining above 95% during the quarter.