Markets
The Trade Desk Q3 earnings
Jeff Green, The Trade Desk’s CEO (Greg Doherty/Getty Images)

The Trade Desk falls despite decent Q3 results

The ad tech platform has had a brutal 2025.

Matt Phillips

Ad tech platform The Trade Desk reported better-than-expected Q3 results after the close on Thursday, though its stock price dropped in the after-hours session.

The advertising software company reported.

  • Adjusted Q3 earnings per share of $0.45 vs. the $0.44 consensus estimate, per FactSet.

  • Q3 revenue of $739 million vs. the $719.1 million expectation.

  • Q4 sales guidance of at least $840 million vs. Wall Street’s $830.4 million view.

The Trade Desk specializes in helping client advertisers shift their ads from traditional linear television toward online streaming services. But its shares have come under pressure this year, as it faces a daunting competitive threat from Amazon’s demand-side advertising platform.

Amazon’s service can draw on the retail behemoth’s massive pool of consumer data, a selling point that The Trade Desk has tried to counter with an emphasis on its independence, concentration on the “open web,” and its own exclusive third-party data relationships. Still, competition against Amazon is tough.

Analysts at TD Cowen estimate that The Trade Desk already has about 43% of the US open web — that is, non-social media or Google-based — advertising market, a large presence that “may constrain future growth potential, especially as competition from Amazon intensifies,” they wrote in a recent note.

The stock was down more than 60% for the year through the end of trading on Thursday.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

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