The Trade Desk's growth rate collapsed from 12% to 3% in one quarter

The Trade Desk's revenue grew 3% year-over-year in Q2 2026 to $715 million, down from 12% growth in Q1, the company reported August 6. Three months earlier, management guided to at least $750 million — actual revenue missed that floor by $35 million. For a stock historically valued on premium growth, the compression from 12% to 3% in one quarter is the headline number.