Overview
- The Trade Desk, which reported results Thursday, fell about 14% to 15% in Friday premarket trading after its outlook trailed forecasts.
- First‑quarter adjusted earnings were $0.28 per share versus the $0.32 estimate, while revenue rose 12% to roughly $689 million and topped expectations.
- Management guided for at least $750 million in second‑quarter revenue and about $260 million in adjusted EBITDA, below the roughly $771 million revenue consensus.
- KeyBanc, Oppenheimer, and William Blair cut their ratings Friday, citing slowing growth, tougher competition, and signs of market‑share pressure.
- Agency friction added to concerns after Publicis said in March an independent review found Trade Desk did not pass an audit and it would stop recommending the platform, even as the company reported customer retention above 95% and $164 million in buybacks with $327 million left authorized.