The Trade Desk responded to reports that Walmart renegotiated their adtech agreement to allow the use of other platforms, which some say could benefit Amazon.
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The Trade Desk reported Q2 revenue of $694M, up 19% year-over-year, with adjusted EBITDA of $271M (39% margin) and adjusted net income of $203M ($0.41 per diluted share).
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Evercore remains bullish on The Trade Desk (TTD), even as competition in the digital ad space intensifies with Amazon ramping up its DSP.
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Trade Desk shares declined after Wells Fargo downgraded the stock to "equal weight" from "overweight," warning of rising competitive pressure from Amazon.
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