Shares of The Trade Desk (NASDAQ:TTD) fell in after-hours trading after the company reported earnings for its second quarter of Fiscal Year 2023. Earnings per share came in at $0.28, which beat analysts’ consensus estimate of $0.26 per share. Sales increased by 23.1% year-over-year, with revenue hitting $464. This beat analysts’ expectations by $9 million.
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Looking forward, management now expects revenue and adjusted EBITDA for Q3 2023 to be $485 million and $185 million, respectively. For reference, analysts were expecting $480.5 million in revenue.
Overall, Wall Street has a consensus price target of $82.06 on TTD stock, implying 1.46% upside potential, as indicated by the graphic above.