Q2 26 EPS Adjusted
$0.34
MISS 15.13%
Est. $0.40
Q2 26 Revenue
$715.1M
MISS 4.86%
Est. $751.6M
vs S&P Since Q2 26
-29.0%
TRAILING MARKET
TTD -29.0% vs S&P +0.0%
Market Reaction
Did TTD Beat Earnings? Q2 2026 Results
The Trade Desk delivered a disappointing second quarter, missing on both top and bottom lines as revenue of $715.06 million grew just 3.0% year over year, falling short of the $751.55 million consensus by 4.86%, while adjusted EPS of $0.34 trailed th… Read more The Trade Desk delivered a disappointing second quarter, missing on both top and bottom lines as revenue of $715.06 million grew just 3.0% year over year, falling short of the $751.55 million consensus by 4.86%, while adjusted EPS of $0.34 trailed the $0.40 estimate by 15.13%. The sharp deceleration from the 19% growth posted in Q2 2025 reflected what CEO Jeff Green openly acknowledged as a quarter that "did not meet the standard we set for ourselves," with marketer caution in a complex advertising environment weighing on demand. Profitability also contracted, with adjusted EBITDA compressing to $241.28 million from $270.75 million a year ago, as platform operating costs climbed to $184.33 million. The company responded with sweeping executive changes, installing a new CFO, CMO, and Chief Commercial Officer as part of a broader leadership reset. Looking ahead, Q3 2026 guidance of at least $650 million in revenue and approximately $160 million in adjusted EBITDA signals continued near-term pressure, even as options markets had braced for a significant post-earnings price swing.
Key Takeaways
- • Revenue growth decelerated to 3% YoY from 19% in the prior-year quarter
- • Adjusted EBITDA margin compressed to 34% from 39% year over year
- • Complex advertiser environment impacting growth
- • Customer retention remained over 95%
TTD Forward Guidance & Outlook
For Q3 2026, The Trade Desk guided revenue of at least $650 million and adjusted EBITDA of approximately $160 million. The company did not provide GAAP net income guidance due to the variability and complexity of stock-based compensation expense.
TTD YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
“This quarter did not meet the standard we set for ourselves, but it has reinforced our belief that we are focused on the right opportunities for the future.”
— Jeff Green, Q2 2026 Earnings Press Release
TTD Earnings Trends
TTD vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
TTD EPS Trend
Earnings per share: estimate vs actual
TTD Revenue Trend
Quarterly revenue: estimate vs actual
TTD Quarterly Results
8 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 MISS | $0.40 | $0.34 | -15.13% | $715.1M | -4.86% |
| Q1 26 MISS | $0.32 | $0.28 | -12.39% | $688.9M | +1.50% |
| Q4 25 BEAT FY | $0.58 | $0.59 | +1.67% | $846.8M | +0.73% |
| FY Full Year | $1.76 | $1.77 | +0.52% | $2.90B | +0.25% |
| Q3 25 BEAT | $0.44 | $0.45 | +1.86% | $739.4M | +2.79% |
| Q2 25 MISS | $0.41 | $0.41 | -0.92% | $694.0M | +1.17% |
| Q1 25 BEAT | $0.25 | $0.33 | +33.23% | $616.0M | +7.08% |
| Q4 24 BEAT FY | $0.57 | $0.59 | +3.60% | $741.0M | -2.44% |
| FY Full Year | — | $1.66 | — | $2.44B | — |
| Q2 23 BEAT | $0.26 | $0.28 | +7.69% | $464.3M | +2.03% |