The Trade Desk Rebuilt Its C-Suite in Two Months. Its First Guidance Since Points to a 12% Revenue Decline.

The Trade Desk issued weak third-quarter guidance expecting revenue of at least $650 million, down 12% year-over-year from $739 million, with adjusted EBITDA plummeting roughly 50% to $160 million from $317 million. The stock plunged 25% in after-hours trading following the announcement. The company cited economic headwinds from tariffs and oil prices affecting consumer packaged goods and auto advertisers, along with execution issues. Revenue growth has decelerated from 18% to 3% to negative over consecutive quarters.