The Trade Desk's CTV Business Is Still Booming
During the pandemic, one industry that investors counted on taking a hit was advertising. Even digital advertising was expected to get rocked, as negatively affected businesses reduced or even paused their ad spend.
But some digital advertisers have been showing surprising resilience. Last week, Facebook crushed expectations and posted 10% year-over-year growth in its advertising revenue. Earlier this week, Roku's platform segment, which includes revenue from both advertising and subscriptions on its platform, grew 46% year over year.
This week's surprise comes from data-driven advertising company The Trade Desk (NASDAQ: TTD), which reported sharp growth in CTV ad spend, a strong bottom line, and a better-than-expected outlook for Q3. Here's a closer look at The Trade Desk's second-quarter results, as well as management's guidance for Q3.
Source Fool.com
