Demand-side advertising platform The Trade Desk witnessed more sharp growth this year -- up 23% to $464 million in the second quarter, outperforming analysts estimates and company guidance.
In addition, operating income soared during the period -- to $41.7 million from $1.7 million in the year ago period. The company posted net income of $32.9 million, reversing a net loss of $19.1 million in the year ago period.
The DSP benefited from budgets increasingly shifting to connected TV-video platforms along with increasing use of retail media data for brands.
The Trade Desk's share of revenue coming from video advertising deals has risen to a mid-40s share compared to around 40% in the year-ago period.
During the period, Warner Bros. Discovery was the last major U.S. streaming service group -- which includes Max and Discovery+ -- to adopt Unified ID 2.0, the identity graph that the Trade Desk started up and now promotes as an open-source identity tool for the industry.
The Trade Desk says UID2 is now available on nearly 100% of all U.S. connected TV impressions.
In July 2022, Disney Advertising expanded its deal with The Trade Desk, which now matches Disney's audience graph with the Trade Desk's UID 2.0 for activation of media buys.
Next quarter, the company guidance estimates that revenue will rise to $485 million with adjusted EBITDA going to $185 million. In the second quarter it was $180 million.