The Trade Desk (TTD) and AppLovin (APP) both participate in digital advertising, but their platforms, customers and reported adjusted measures differ. Comparing per-share prices or absolute revenue as if they were one business would mislead. The matched historical financial period below is calendar Q2 2026, then the newer information is shown separately.
Two completed November 6 charts
TTD closed the November 6 U.S. regular session at $12.93, below its $13.07 50-day and $19.50 200-day simple averages. Its June 1 intraday high was $23.57 and October 7 intraday low $11.62; the November 6 close remained 45.14% below that earlier high even after rising 11.27% from the later low. Those endpoints are intraday extremes, not closing prices.
APP closed the same regular session at $391.22, up 9.86% from its November 5 close of $356.10. It was above its $293.36 50-day average but below its $409.30 200-day average. Its November 6 intraday high of $398.00 was below the longer average, so the session did not show a 200-day test. A completed daily close over $409.30, then a daily retest and close above it, would strengthen that chart case. TTD would first need an equivalent completed daily reclaim of $13.07. Neither moving average is a target or floor.
Compare the same calendar quarter first
TTD's Q2 2026 revenue was $715.057 million, up about 3% from $694.039 million in Q2 2025. Its GAAP net income was $64.394 million and company-defined adjusted EBITDA $241.279 million, a 34% adjusted margin.
APP's Q2 2026 revenue was $1,923.686 million, up about 53% from $1,258.754 million in Q2 2025. Its GAAP net income was $1,266.538 million and company-defined adjusted EBITDA about $1,614 million. The companies' adjusted EBITDA definitions and business models differ, so even matched-period adjusted margins are not a clean ranking of operating quality. These figures describe reported scale and change, not a valuation conclusion.
The newer information is not matched
APP reported Q3 2026 revenue of $2.18 billion, up 55% year over year. Its GAAP net income was $1,438.902 million; company-defined adjusted EBITDA was $1,842.230 million, or 84% of revenue. APP reported Q3 operating cash flow of $1,428.842 million and company-defined free cash flow of $1,418.443 million. Its Q4 revenue outlook was $2,365 million to $2,395 million. These are APP's Q3 facts and forward outlook, not a like-for-like comparison with TTD's Q2.
TTD's Q3 result has not been released. Its earlier company outlook called for at least $650 million of Q3 revenue and approximately $160 million adjusted EBITDA. The company scheduled the release after the November 9 close. Do not infer the outcome from the November 6 close or from APP's reported Q3.
What would change the comparison?
After TTD reports, compare the two companies' actual Q3 2026 revenue growth, GAAP earnings, issuer-defined adjusted measures and cash generation using the same calendar period. Document any accounting or model differences. On the charts, watch whether TTD can complete a daily reclaim and retest above $13.07 and whether APP can do so above $409.30. A broken level or weaker operating figures would weaken the corresponding case. There is no simple winner from the current mismatched reporting information.
See the issuer-confirmed Earnings Week board and the November 6 Daily Levels archive.
Market research only, not a recommendation to buy or sell.