#trade-desk

#trade-desk

First, management's tone wasn't amiable on the call, and in follow-up interviews, as CEO Jeff Green flagged tariff-related uncertainty that could pressure large global brands, precisely the kind of advertisers that dominate TTD's mix. That spooked investors about second-half visibility. Moreover, guidance for Q3 revenue of "at least" $717 million implied growth decelerating from Q2's 19% to the mid-teens, which is hardly a collapse but enough to challenge a once-lofty multiple.