Trade Desk Q2 Revenue Misses, EPS Beats; Q3 Guidance Below Street

summarizeSummary

Trade Desk's Q2 revenue grew just 3% to $715M, with GAAP net income down 29%. Q3 guidance of $650M+ revenue signals continued deceleration, pressuring a stock already near 52-week lows.

check_boxKey Events · Earnings and Guidance · TTD

• Q2 Revenue Growth Slows to 3%

  Revenue of $715M grew only 3% YoY, a sharp deceleration from 19% growth in Q2 2025 and 12% in Q1 2026.

• GAAP Net Income Drops 29%

  GAAP net income fell to $64M ($0.14 diluted EPS) from $90M ($0.18) a year ago, though non-GAAP EPS of $0.34 beat consensus.

• Q3 Guidance Implies Continued Weakness

  Q3 revenue guidance of at least $650M suggests another quarter of low single-digit growth, with adjusted EBITDA of ~$160M indicating margin pressure.

• Share Repurchases Continue

  The company bought back $78M in stock during Q2, with $269M remaining under its authorization, but the stock remains near 52-week lows.

auto_awesomeAnalysis · TTD · Technology

Trade Desk reported Q2 revenue of $715 million, up only 3% year-over-year and well below the 19% growth a year ago. GAAP net income fell 29% to $64 million, though adjusted EPS of $0.34 beat consensus. The real sting is Q3 guidance: revenue of at least $650 million implies another quarter of sluggish growth, and adjusted EBITDA of $160 million suggests margin compression. The stock is already trading near its 52-week low, and this print confirms the growth deceleration that has erased over $50 billion in market cap. The company is buying back stock aggressively — $78 million this quarter — but that hasn't stemmed the decline. New partnerships and leadership hires are positive, but the near-term numbers are what matter now.