Ad tech firm Trade Desk's revenue beats on international growth
By Sonam Rai
Nov 8 (Reuters) - Trade Desk Inc on Thursday beat analysts' estimates for third-quarter revenue, as it added more international customers to its data-driven platform for targeted advertising campaigns.
Trade Desk generates revenue by charging its clients a platform fee based on a percentage of their total spend. The company has been benefiting from its newly launched software called "the next wave", which includes an artificial intelligence-driven engine to help advertisers better monitor their digital campaigns.
In China, the company recently partnered with Tencent Social Ads and Baidu Inc backed video streaming service iQiyi Inc, Trade Desk Chief Executive Officer Jeff Green told Reuters.
The company, which does not own any media content but lets media buyers use software to purchase digital advertising, says it sees itself complementing internet giants Alphabet Inc and Facebook Inc and traditional advertising firms such as Omnicom Group Inc and WPP Plc.
Trade Desk's net income rose to $20.3 million, or 44 cents per share, in the third quarter ended Sept. 30, from $10.2 million, or 23 cents per share, a year earlier.
Revenue rose nearly 50 percent to $118.8 million, beating the average analyst estimate of $117.4 million, according to IBES data from Refinitiv. (Reporting by Sonam Rai in Bengaluru; Editing by Maju Samuel)
