Global technology platform for advertising buyers, The Trade Desk, has reported a robust start to 2024, with 28% year-on-year revenue growth to $491 million in Q1 2024. The results surpassed analyst expectations, with revenues predicted to be $480 million.

It marks the continuation of a consistent growth trajectory for The Trade Desk, which has seen more than 20% growth in each of the last nine quarters.

Co-founder and CEO of The Trade Desk, Jeff Green, said: “Q1 was a strong quarter for The Trade Desk as we delivered revenue of $491 million, accelerating growth to 28% year-over-year. Our outstanding performance to start the year underlines the value advertisers are placing on premium inventory on the open internet.”

The company's adjusted EPS for Q1 2024 was reported at $0.26. Looking ahead, The Trade Desk has issued guidance for 2Q 2024, projecting at least $575 million in revenue and approximately $223 million in EBITDA.

In a strategic move to bolster its financial position, The Trade Desk repurchased $125 million of stock, bringing the total amount of share buy-backs to $575 million. The company's partnerships in the Connected TV (CTV) space have also expanded, with notable collaborations with Disney, NBCUniversal, and Roku.

Companies across the advertising ecosystem are leveraging new tools pioneered by The Trade Desk, such as Unified ID 2.0 (UID2), EUID, OpenPath, and OpenPass. These innovative technologies have been adopted by Times Internet, DISH Media, Lotame, TF1, and M6.

"With the continued strong growth of CTV, the growing ubiquity of UID2, new approaches to authentication, greater deployment of first-party data and retail data, and with significant AI advances in our Kokai platform, we are better positioned than ever to deliver premium value to advertisers and continue to gain market share," said Green.

The Trade Desk is also expanding its OpenPath technology in the CTV sector, partnering with Vizio and Cox Media Group among other publishers.