The Trade Desk’s Upcoming Q3 Earnings Preview

RBC Capital analysts provided their outlook on The Trade Desk, Inc. (NASDAQ:TTD) ahead of the upcoming Q3 results, expecting the company to deliver a solid result despite the challenging macro, with consensus revenue/adjusted EBITDA at $386 million/$141 million, which implies year-over-year revenue growth of 28%.

Year-to-date, the company has continued to be the exception to the rule proving macro resilient, benefiting from format diversity and approximately 90% domestic concentration.

The analysts expect relative outperformance to continue but have lowered their estimates to reflect the more challenging macro. The analysts reiterated their outperform rating and $80 price target on the company’s shares.