Why Trade Desk Stock Surged 14% Today
Shares of The Trade Desk (NASDAQ: TTD) climbed 14% on Wednesday, following an encouraging first-quarter performance by an ad industry titan.
Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG), the parent company of Google, delivered solid Q1 results. The digital advertising giant's revenue rose 13% year over year, to $41 billion, despite challenges brought by the coronavirus pandemic.
Moreover, comments by Alphabet CFO Ruth Porat during a conference call with analysts suggested that the digital ad market was holding up relatively well during the COVID-19 crisis. Porat said that although Alphabet saw an "abrupt" decline in ad revenue in March, it was seeing "early signs ... that users are returning to more commercial behavior."
Source Fool.com
