Trade Desk slides on Q2 miss and softer Q3 outlook
The Trade Desk posted Q2 CY2026 revenue of $715.1M (up 3% YoY) vs estimates of $752.1M, with adjusted EPS of $0.34 vs $0.40 and EBITDA of $241.3M vs $262M. Q3 revenue guidance of about $650M (midpoint) fell well short of consensus $804.8M and EBITDA guidance of $160M vs $339.6M. The stock dropped 21.8% to around $13.81 after the report, as investors weighed softer near-term outlook despite a 10.3-month CAC payback; long-term growth remains solid but the near-term trajectory looks weaker.