The Trade Desk Jumps 8% Ahead of Earnings; Magnite Gains 2%, AppLovin Dips David Moadel Mon, November 9, 2026 at 8:46 AM EST 6 min read TTD +7.50% MGNI +2.23% APP -0.90% AMZN +3.88% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
The Trade Desk jumps 6% to $14 before earnings, needing only to beat its own lowered $650 million revenue floor, while Magnite gains on strong results.
Amazon's fast-growing ad business and soft brand budgets threaten the turnaround, so a 15% workforce cut must show up in margins.
Magnite and AppLovin already proved a strong quarter lifts ad-tech stocks, leaving investors cautious until The Trade Desk's revenue test resolves.
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A beaten-down ad-tech leader is drawing buyers as its next report approaches, and management's own forecast sets the bar. The Trade Desk (NASDAQ:TTD) stock is at $14, up 8% in morning trading. An upcoming earnings report from the company is expected on November 9, though The Trade Desk hasn't confirmed the date.
The bounce follows a rough stretch for Trade Desk shares, which sank after the company's Q2 2026 report on August 6 missed expectations on revenue and earnings. That report also brought a leadership overhaul at The Trade Desk, including a new chief financial officer, chief marketing officer and chief commercial officer.
In August, management guided Q3 2026 revenue to at least $650 million and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) to approximately $160 million. Both targets sit below Q2 results, when The Trade Desk's revenue rose 3% year over year (YoY) to $715.06 million and its adjusted EBITDA reached $241.28 million. Topping that dated revenue floor is the first hurdle, since a beat against a lowered target could support a bottom.
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Cost discipline is the second hurdle. After the Q2 miss, The Trade Desk cut its workforce by 15%, and CEO Jeff Green told staff the company would run on "smaller pods and smaller scrums, but with greater focus." The upcoming report could show how much of that restructuring is reaching margins.
Connected TV (CTV) is the third hurdle, as The Trade Desk needs growth there to offset softer spending from big consumer and auto brands, whose ad budgets remain under pressure. The company has been adding premium streaming supply to its marketplace to support that effort.
Technology leadership is changing too. The Trade Desk announced this on November 3. Co-founder Dave Pickles, who stepped down as chief technology officer in 2023, is returning to lead a new CTO Council focused on artificial intelligence (AI) advertising workflows. Competition remains intense, with Amazon (NASDAQ:AMZN) building a fast-growing ad business that chases the same budgets.
Magnite (NASDAQ:MGNI) stock is at $28.01, up 2%. The sell-side platform reported Q3 2026 results on November 4 that exceeded expectations, with revenue rising 13.8% YoY to $204.20 million and CTV contribution excluding traffic acquisition costs (ex-TAC) up 39%. CEO Michael G. Barrett stated that full-year political spend should reach "nearly three times our initial forecast," and Magnite raised its full-year outlook across key metrics. The latest gain continues a run that took Magnite stock from $22.37 at the report to $27.39 a day later.
Meanwhile, AppLovin (NASDAQ:APP) stock is at $385.91, down 1%. AppLovin's Q3 2026 revenue rose 55.5% YoY to $2.18 billion, beating the consensus estimate, and the company guided Q4 2026 revenue to $2.37 billion to $2.40 billion. The pullback looks like profit taking after a sharp run, as AppLovin stock went from $245 at the report to $391.22 a day later.
That leaves a mixed picture for ad-tech stocks, with Magnite and AppLovin trading on results already in hand, while Trade Desk stock, by contrast, is moving on expectations for a report that's still to come.
The Trade Desk operates as a demand-side platform (DSP). It works for agencies and brands that buy ads across CTV, mobile, display, audio and digital out-of-home on the open internet. Magnite sits on the opposite side of that transaction as an independent sell-side platform, helping publishers and streaming media owners sell their inventory, with CTV as its largest channel. The two companies often meet in the same auctions, so strong CTV demand could help both.
AppLovin follows a different path. The company's mobile-first platform grew out of mobile gaming and is now expanding into consumer and e-commerce advertisers, using its own prediction models to price impressions. This position leaves AppLovin less tied to the agency budgets that drive The Trade Desk.
Investors will soon see if The Trade Desk's Q3 revenue topping management's floor while the workforce cut trims costs. Supporters can highlight customer retention above 95% for more than a decade, a bar the company set for itself, and $269 million left on its buyback authorization as of June 30. A weaker result would strengthen the bears, who argue that growth has slowed sharply, brand budgets remain soft and Amazon keeps drawing ad dollars toward its own platform.
Magnite and AppLovin have already shown how quickly a strong quarter can boost ad-tech shares, and The Trade Desk now gets its turn. Investors might want to stay cautious and watch to see how The Trade Desk's Q3 revenue test resolves before drawing any conclusions.
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