The Trade Desk, the advertising programmatic platform, keeps amassing big revenue gains, growing another 42% in revenues for the second quarter to $159 million.
This follows up on a 41% hike in the first quarter. Net income in the second quarter was up 44% to $27.8 million from $19.3 million.
Two of the company's fastest-growing new businesses are doing well: The connected TV business was up two and half times, while audio spending grew 270%.
Its established mobile business continues to post gains, while mobile video was up 50%; mobile in-app, 63% higher. Nearly 50% of Trade Desk’s overall business is in mobile.
Trade Desk says another key number is customer retention -- with 95% continuing to use the platform, this level has remained the same over the past 22 quarters.
Jeff Green, founder-CEO of The Trade Desk, said the company is now raising its 2019 revenue estimates to at least $653 million.
Recently, Amazon agreed to open up its connected TV platform, Amazon Fire TV, to third-party and demand-side supply advertising platforms, The Trade Desk and Dataxu, to allow deal-making for individual content providers, such as NBC, Discovery and ESPN.
Green said during an analysts phone call on Thursday: “This shift toward premium content will also force big walled garden platforms to re-evaluate their take rates and margins.” This is in reference to ad businesses at Google and Facebook.
Friday morning trading of Trade Desk stock was up 3% to $281.17.