Shares of advertisement strategy and marketing solutions provider Trade Desk Inc. (TTD) have risen by more than 255 percent since the beginning of the year. Among the beneficiaries of social limitations was the business.
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Advertising in streaming services was the fastest-growing segment of Trade Desk in the previous quarters. The COVID-19 pandemic has led to entertainment venues being closed, so there has been a dramatic rise in interest in streaming services. In addition, the interest of advertisers in ads for such services has increased. Thus in the linked TV market, Trade Desk’s revenue doubled in the third quarter compared to the same quarter last year. Total revenues grew year-on-year by 32 percent to $216 million, while net income more than doubled to $41 million, exceeding the forecasts of analysts. In the mobile video and audio segments, Trade Desk reported a 70 percent increase in ads. A historically high level of customer retention was also reported by the company which remained around 95%.
Trade Desk currently expects a major growth factor to be its Unified ID 2.0 solution. This is a framework that is open source and claims to replace conventional cookie-based applications. Users can also use this platform to target advertisements much more efficiently, which enhances their value. However the measurement solution will be handled by an autonomous party to make sure that the source of audience knowledge is impartial. It is expected that next year Unified ID 2.0 will become a full-fledged replacement for the current targeting tools.
Trade Desk has grown its presence outside the USA in recent quarters. In Spain, France, the UK and South Korea, the company is opening new foreign offices and growing revenue.
Trade Desk Inc. (TTD) stock took a slight dip of -0.40 percent on Monday and was worth $922.42 at ring of the bell.