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When the Trade Desk Inc. (NASDAQ: TTD) released its most recent earnings report after the markets closed on Thursday, the company posted $0.60 in earnings per share (EPS) and $112.3 million in revenue. That compares with consensus estimates of $0.44 in EPS and $103.7 million in revenue, as well as the $0.52 per share and $72.8 million reported in the second quarter of last year.

During the most recent quarter, the Mobile segment grew 89% year over year, with an increase of 45% in gross spend — its highest percentage ever.

Looking ahead to the third quarter, the company expects to see revenue of $116 million with an adjusted EBITDA of $33 million. Consensus estimates call for $0.46 in EPS and $109.14 million in revenue for the quarter.

On the books, Trade Desk cash and cash equivalents totaled $141.68 million at the end of the quarter, down from $155.95 million at the end of the previous fiscal year,

Jeff Green, founder and CEO, commented:

We broke our previous revenue record and surpassed our own expectations during the second quarter.  Record revenue of $112.3 million was a 54% increase year over year which equaled the 54% year over year increase we had last year in the second quarter. Net income was a record $19.3 million. Connected TV, audio, mobile and video led our channel growth. Our momentum continued with additional large customer wins and robust international growth. During the quarter, we also launched the Next Wave, the biggest product launch in our company’s history. The Next Wave includes three game-changing components: Koa, a powerful artificial intelligence (AI) agent; The Trade Desk Planner, a data-driven media planning tool; and Megagon, our intuitive new user experience.

Shares of Trade Desk were last seen up about 39% at $129.92, with a consensus analyst price target of $85.67 and a 52-week trading range of $40.70 to $130.79.

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