The Trade Desk, Inc. (NASDAQ:TTD) reported its Q3 earnings results, with EPS coming in at $0.18, beating the consensus estimate of $0.16. Quarterly revenue was $301.09 million, beating the consensus estimate by 6.17%.

Entering the quarter, the sentiment was negative as investors focused on e-commerce headwinds, IDFA and supply chain challenges, none of which had a meaningful impact on the quarter. While Q3 was driven by continued outperformance of core markets and strong international results, the commentary focused on the future, particularly growth in CTV, early returns on Solimar and the potential for shopper data, a $200 billion incremental TAM, following the recent Wal-Mart launch with "many" major retailers showing interest. As the environment normalizes, analysts at RBC Capital view the company as well-positioned to benefit in its core market while also creating actionable insights for its customers unlocking their first-party data.