The Trade Desk Stock Drops As Advertisers Shift To Amazon
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The Trade Desk Inc. (TTD) shares fell 4.17% to $72.89 as major advertisers shift ad spending to Amazon, particularly in connected TV (CTV) budgets. A global auto brand moved $80 million and a tech company redirected $5 million from The Trade Desk to Amazon. Agencies report that 80% of clients have shifted funds, citing better pricing and exclusive deals with Amazon. Despite The Trade Desk's 25% revenue growth, Amazon's ad revenue reached $13.9 billion, up 18% year-over-year.
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Source: Benzinga The copyright of this article belongs to the original author/organization.
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