The Trade Desk shares plunge after posting Q2 revenues of $694 million

The public markets can be a cold, unforgiving place, with The Trade Desk’s fortunes on the Nasdaq alone this year a prime example of their unpredictability. 

The industry’s largest independent demand-side platform posted Q2 revenues of $694 million, up 19% year-on-year, beating analysts’ earlier expectations, with The Trade Desk also naming a new chief financial officer, Alex Kayyal, and board member Omar Tawakol.

However, The Trade Desk’s stock price dropped markedly in the early hours after making the disclosure, with certain market observers labelling the Q2 performance as “lackluster,” even with revenue guidance of “at least $717 million” in the coming quarter.     

As part of the tri-partite announcement, The Trade Desk announced that its current CFO, Laura Schenkein will transition out of her current role, and remain as a non-executive director, with Kayyal (existing board member) set to take over the new role on August 21. 

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