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Let’s see how things have shaped up for this announcement:
Factors to Consider
The Trade Desk’s top-line growth in the third quarter is expected to have been backed by a significant increase in digital spending, primarily driven by a shift from linear TV to more premium alternatives like programmatic CTV.
Strong customer retention is expected to have pushed up the company’s revenues during the quarter. The Trade Desk achieved strong customer retention, with over 95% retention rate during the second quarter, maintaining this impressive record for nine consecutive years.
It is witnessing strong momentum around key initiatives like Connected TV, retail media, Unified ID 2.0, OpenPath and the new data marketplace.
Improving ad spending environment bodes well for The Trade Desk. It is expected to have benefited from its expanding footprint in international markets across Europe and Asia.
The Trade Desk has been benefiting from an expanding partner base. In the second quarter of 2023, it extended its support to Warner Bros.Discovery by integrating with UID2.
The UID2 integration extends to premium entertainment, sports, news, and lifestyle brands with Warner Bros. digital platforms, including HBO Max and Discovery+.
The Trade Desk further announced its collaboration with Walmart’s advertising arm, Walmart Connect.
Walmart Connect initiated the testing of UID2 integration to inform decision-making across the open Internet within the Walmart DSP.
Additionally, The Trade Desk launched EUID, the European counterpart to UID2 specifically developed for the European market, which is gaining support across Europe from brands, publishers, and retailers.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
The Trade Desk has an Earnings ESP of 0.00% and a Zacks Rank #3 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Image: Bigstock
The Trade Desk (TTD) to Report Q3 Earnings: What's in Store?
The Trade Desk (TTD - Free Report) is set to release its third-quarter 2023 results on Nov 9.
For the third quarter, the company expects revenues of at least $485 million, indicating growth of 23% year over year.
The Zacks Consensus Estimate for the top line is currently pegged at $486.72 million, suggesting 23.29% year-over-year growth.
The consensus mark for earnings is estimated to be 29 cents per share, indicating 11.54% growth from the figure reported in the year-ago quarter.
The company’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, delivering an earnings surprise of 23.91% on average.
The Trade Desk Price and EPS Surprise
The Trade Desk price-eps-surprise | The Trade Desk Quote
Let’s see how things have shaped up for this announcement:
Factors to Consider
The Trade Desk’s top-line growth in the third quarter is expected to have been backed by a significant increase in digital spending, primarily driven by a shift from linear TV to more premium alternatives like programmatic CTV.
Strong customer retention is expected to have pushed up the company’s revenues during the quarter. The Trade Desk achieved strong customer retention, with over 95% retention rate during the second quarter, maintaining this impressive record for nine consecutive years.
It is witnessing strong momentum around key initiatives like Connected TV, retail media, Unified ID 2.0, OpenPath and the new data marketplace.
Improving ad spending environment bodes well for The Trade Desk. It is expected to have benefited from its expanding footprint in international markets across Europe and Asia.
The Trade Desk has been benefiting from an expanding partner base. In the second quarter of 2023, it extended its support to Warner Bros.Discovery by integrating with UID2.
The UID2 integration extends to premium entertainment, sports, news, and lifestyle brands with Warner Bros. digital platforms, including HBO Max and Discovery+.
The Trade Desk further announced its collaboration with Walmart’s advertising arm, Walmart Connect.
Walmart Connect initiated the testing of UID2 integration to inform decision-making across the open Internet within the Walmart DSP.
Additionally, The Trade Desk launched EUID, the European counterpart to UID2 specifically developed for the European market, which is gaining support across Europe from brands, publishers, and retailers.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
The Trade Desk has an Earnings ESP of 0.00% and a Zacks Rank #3 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Synopsys (SNPS - Free Report) has an Earnings ESP of +0.94% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Synopsys shares have gained 52.8% year to date. SNPS is set to report its fourth-quarter 2023 results on Nov 29.
Docebo (DCBO - Free Report) has an Earnings ESP of +2.44% and a Zacks Rank #3.
Docebo shares have gained 31.3% in the year-to-date period. DCBO is set to report its third-quarter 2023 results on Nov 9.
Lumentum (LITE - Free Report) has an Earnings ESP of +9.59% and a Zacks Rank #3.
Lumentum shares have declined 18% year to date. LITE is set to report its first-quarter fiscal 2024 results on Nov 8.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.