The Trade Desk reported second-quarter revenue of $694 million, up 19% from a year earlier and marginally above Wall Street estimates. Adjusted earnings were unchanged at $0.41 a share, while net income reached $90 million. Adjusted EBITDA rose to $271 million, representing a 39% margin, and customer retention remained above 95% for an eleventh consecutive year. For the current quarter, the advertising-technology company projected revenue of at least $717 million and adjusted EBITDA of roughly $277 million, implying a deceleration to about 14% year-over-year growth. Chief Executive Officer Jeff Green told investors that some large global brands are delaying campaigns amid tariff uncertainty, adding to concerns about slowing demand across the open internet as Amazon expands its advertising platform. The board appointed longtime director and venture capitalist Alex Kayyal as chief financial officer effective Aug. 21, succeeding Laura Schenkein, who will stay through year-end to assist with the transition. The company also added Omar Tawakol, an artificial-intelligence entrepreneur, to its board. Investors reacted sharply to the softer outlook and leadership change. Trade Desk shares plunged as much as 39% on Friday, wiping out about $16 billion in market capitalization in their steepest single-day decline since the firm went public in 2016 and extending the stock’s drop this year to 53%. Bank of America downgraded the shares to Underperform and cut its price target to $55, while Wedbush lowered its rating to Neutral with a $68 target, both citing slower growth and intensifying competition.
Why Did The Trade Desk Stock Just Crash? 📉 https://t.co/1xmXPW99Yx
Trade Desk Named 'Strong Buy' Amid Ugly Freefall $TTD $AMZN #MarketRecon . https://t.co/IbFKr1V2IM via @sarge986
Stage 4 disaster - $TTD down 37% today! - Stock has been in a "Stage 4" decline since February - Nothing good happens < downward sloping 40wk ma This is why we use Stage Analysis to manage risk. https://t.co/uoD2iWd5KY