The Trade Desk reported strong results for the third quarter of 2024. The company’s revenue grew by 27% compared to the same period last year, reaching $628 million. Net profits also increased significantly, rising from $39 million to $94 million year-over-year.
CEO Jeff Green highlighted several key growth drivers for the company. Connected TV (CTV) has become The Trade Desk’s largest and fastest-growing media channel. Video ads, including CTV, now make up nearly 50% of the company’s overall business.
Green also pointed to emerging opportunities in digital audio and live sports.
Q3 revenue growth and strategic drivers
He believes that digital audio has significant potential, as ad budgets have not yet caught up with the rapid growth in consumer consumption.
Similarly, he sees programmatic advertising as a good fit for the dynamic nature of live sports, especially during high-interest moments like overtime or last-minute game changes. The ongoing antitrust trial against Google’s ad tech business could also benefit The Trade Desk. Green suggested that regardless of the trial’s outcome, Google’s declining market dominance could level the playing field for competitors.
The Trade Desk has consistently outperformed Google’s DSP, achieving more than 20% year-over-year growth for over two years. I’m very excited to see the outcome, and I think we win no matter what,” Green said, expressing confidence in the company’s continued success amid the DOJ trials. The Trade Desk’s focus on new media channels and innovative approaches positions the company well for continued growth in the evolving digital advertising landscape.
With strong financial performance and strategic initiatives, The Trade Desk appears poised to capitalize on the opportunities ahead.
