RBC Capital analysts provided their outlook on The Trade Desk, Inc. (NASDAQ:TTD) ahead of the upcoming Q1/23 earnings results, scheduled on May 11.

The analysts expect the company to deliver a solid quarter but with a smaller beat vs. Street revenue/adjusted EBITDA at $364 million/$79 million, which implies year-over-year revenue growth of 15%.

The analysts are optimistic about 2023 and have identified various company-specific factors that could potentially drive growth, in addition to the broader economic recovery.

These include: (1) growing exposure to CTV and the potential for more TAM to move to decisioned programmatic as supply increases, (2) growth and durability of retail media, (3) disruption of walled gardens, particularly regulatory challenges around Google, (4) expanded use of third-party data through Solimar, and (5) CTV helping to drive international revenue growth.