Press release
The Trade Desk Reports First Quarter 2023 Financial Results; Announces Plans for Chief Financial Officer Transition
LOS ANGELES--(BUSINESS WIRE)-- The Trade Desk, Inc. (NASDAQ: TTD), a provider of a global technology platform for buyers of advertising, today announced
About this update from The Trade Desk, Inc.
[{"type":"text","content":" LOS ANGELES--(BUSINESS WIRE)--\nThe Trade Desk, Inc. (NASDAQ: TTD), a provider of a global technology platform for buyers of advertising, today announced financial results for its first quarter ended March 31, 2023.\n\n\n“We delivered outstanding performance in the first quarter, once again outpacing the digital advertising market, growing revenue 21% year-over-year to $383 million. Our strong start to the year is testament to the increasing value that marketers place on objective, transparent, data-driven media buying on the open internet,” said Jeff Green, Co-founder and CEO of The Trade Desk. “2023 is already proving to be a pivotal year for our industry. The shift from linear to connected TV continues to accelerate and fully decisioned programmatic will feature more prominently than ever at this year’s upfronts. At the same time, more leading marketers are leveraging new innovations, such as shopper data, to better understand the relationship between campaign activity and consumer action. As The Trade Desk continues to innovate in these and many other areas, we are well positioned to deliver premium value to our clients and gain share.”\n\n\nFirst Quarter 2023 Financial Highlights:\n\n\nThe following table summarizes our consolidated financial results for the three months ended March 31, 2023 and 2022 ($ in millions, except per share amounts):\n\n\n\n\n \n\n\n\n\n\n\nThree Months Ended\nMarch 31,\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\n2022\n\n\n\n\n\n\n\n\nGAAP Results\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nRevenue\n\n\n\n\n\n\n$\n\n\n\n\n\n\n383\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n315\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nIncrease in revenue year over year\n\n\n\n\n\n\n \n\n\n\n\n\n\n21\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n43\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\n\nNet income (loss)\n\n\n\n\n\n\n$\n\n\n\n\n\n\n9\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n(15\n\n\n\n\n\n\n)\n\n\n\n\n\n\n\n\nGAAP diluted earnings (loss) per share\n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.02\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n(0.03\n\n\n\n\n\n\n)\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nNon-GAAP Results\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nAdjusted EBITDA\n\n\n\n\n\n\n$\n\n\n\...