The Trade Desk stock sets recovery test after flat Q3 revenue

Published on 11/12/2026 at 13:31 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

The Trade Desk stock faces a mixed earnings picture after a strong forecast beat. Management is targeting a more durable recovery.

Quarterly results reset the outlook

Third-quarter revenue was broadly flat year over year, while adjusted profitability declined.
Management expects sequential revenue growth in the fourth quarter but not the usual seasonal uplift.
The board expanded the share repurchase authorization to 1 billion dollars.

The Trade Desk, US88339J1051, Illustration mit AI erstellt.

The Trade Desk reported third-quarter results on Monday, November 9, 2026, with revenue broadly flat year over year but profitability under pressure. The company is now pointing to sequential growth in the final quarter while cautioning that normal seasonality may not return.

The Trade Desk posted third-quarter revenue of 736 million dollars for the period ended September 30. Revenue declined 0.5 percent from a year earlier, while GAAP net income fell to 38 million dollars from 116 million dollars. Diluted GAAP earnings per share were 0.08 dollars.

Profitability remains under pressure

Adjusted EBITDA reached 266 million dollars, producing a 36 percent margin compared with 43 percent a year earlier. The company said its adjusted figures excluded 44 million dollars in restructuring charges, primarily severance and other termination benefits connected with its 2026 restructuring plan.

Non-GAAP diluted earnings per share were 0.33 dollars, down from 0.45 dollars in the prior-year quarter. Customer retention remained above 95 percent, according to the company.

Fourth-quarter targets point higher

For the fourth quarter, management expects revenue of at least 755 million dollars and adjusted EBITDA of at least 280 million dollars. Chief Executive Jeff Green said the third quarter was ahead of internal expectations, but added that growth remains below the level the company expects from itself. Management does not expect the usual seasonal uplift from the third quarter to the fourth quarter.

Product development remains central to the recovery plan. The company introduced Kokai Zuma with agentic artificial intelligence capabilities and a redesigned user experience. Netflix is also expanding its integration with The Trade Desk, allowing advertisers to use first-party and third-party data for audience targeting through Kokai beginning in November.

Share buyback capacity expanded

The board approved an additional 731 million dollars for share repurchases, increasing the total amount available for future purchases of Class A common stock to 1 billion dollars. For investors, the key test is whether product improvements and cost actions can restore stronger top-line growth without further compressing margins.

The Trade Desk stock traded at 14.30 euros on Lang & Schwarz at 13:29 CET on Thursday, November 12, 2026.