The Trade Desk suffers massive miss as shareholders head for exit

The Trade Desk missed broadly on EPS and revenue for Q2.
Management cuts revenue guidance for Q3 by $155 million below consensus.

Clay Webster FXStreet

The Trade Desk (TTD), once a growth darling, is down on its luck. The digital advertising auction house offered up a rare double miss on Thursday.

The company reported adjusted earnings per share (EPS) of $0.34 in the second quarter, missing consensus by $0.06. Revenue of $715.1 million missed the mark by $36.4 million and grew just 3% on an annual basis.

In response, the market traded TTD shares down over 20%, with shares exchanging hands in the $13 range. This is the lowest TTD has traded in six or seven years.

The most significant cause of the major sell-off was the Q3 guidance. Management said it now expects revenue of at least $650 million versus $805 million consensus. Most observers will read this as a sign that earlier anxiety over Alphabet (GOOGL) and Amazon (AMZN) stepping into the digital advertising auction space was correct.

The Trade Desk Q2 earnings chart — TTD 4-hour stock chart

Author

Clay Webster

FXStreet

Clay Webster grew up in the US outside Buffalo, New York and Lancaster, Pennsylvania. He began investing after college following the 2008 financial crisis.

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