Wrapping up Q2 earnings, we look at the numbers and key takeaways for the advertising software stocks, including AppLovin (NASDAQ:APP) and its peers.
The digital advertising market is large, growing, and becoming more diverse, both in terms of audiences and media. As a result, there is a growing need for software that enables advertisers to use data to automate and optimize ad placements.
The 6 advertising software stocks we track reported a slower Q2. As a group, revenues beat analysts’ consensus estimates by 1.5% while next quarter’s revenue guidance was 2.6% below.
In light of this news, share prices of the companies have held steady as they are up 3.4% on average since the latest earnings results.
AppLovin (NASDAQ:APP)
Sitting at the crossroads of the mobile advertising ecosystem with over 200 free-to-play games in its portfolio, AppLovin (NASDAQ:APP) provides software solutions that help mobile app developers market, monetize, and grow their apps through AI-powered advertising and analytics tools.
AppLovin reported revenues of $1.92 billion, up 52.8% year on year. This print fell short of analysts’ expectations by 1.2%. Overall, it was a softer quarter for the company with revenue guidance for next quarter slightly missing analysts’ expectations and EBITDA guidance for next quarter slightly missing analysts’ expectations.
AppLovin scored the fastest revenue growth in the group. Still, the market seems discontent with the results. The stock is down 24.2% since reporting and currently trades at $316.81.
Is now the time to buy AppLovin? Access our full analysis of the earnings results here, it’s free.
Best Q2: PubMatic (NASDAQ:PUBM)
Powering billions of daily ad impressions across the open internet, PubMatic (NASDAQ:PUBM) operates a technology platform that helps publishers maximize revenue from their digital advertising inventory while giving advertisers more control and transparency.
PubMatic reported revenues of $78.59 million, up 10.5% year on year, outperforming analysts’ expectations by 13.7%. The business had an incredible quarter with EBITDA guidance for next quarter exceeding analysts’ expectations and revenue guidance for next quarter exceeding analysts’ expectations.
PubMatic pulled off the biggest analyst estimate beat and highest guidance raise among its peers. The market seems happy with the results as the stock is up 30.8% since reporting. It currently trades at $17.64.
Is now the time to buy PubMatic? Access our full analysis of the earnings results here, it’s free.
Slowest Q2: DoubleVerify (NYSE:DV)
Using advanced analytics to evaluate over 17 billion digital ad transactions daily, DoubleVerify (NYSE:DV) provides AI-powered technology that verifies digital ads are viewable, fraud-free, brand-suitable, and displayed in the intended geographic location.
DoubleVerify reported revenues of $193.8 million, up 2.5% year on year, falling short of analysts’ expectations by 4.2%. It was a disappointing quarter, leaving some shareholders looking for more.
DoubleVerify delivered the slowest revenue growth of the whole group. Interestingly, the stock is up 13.5% since the results and currently trades at $13.30.
Read our full analysis of DoubleVerify’s results here.
The Trade Desk (NASDAQ:TTD)
Built as an alternative to "walled garden" advertising ecosystems, The Trade Desk (NASDAQ:TTD) provides a cloud-based platform that helps advertisers and agencies plan, manage, and optimize digital advertising campaigns across multiple channels and devices.
The Trade Desk reported revenues of $715.1 million, up 3% year on year. This number lagged analysts’ expectations by 4.9%. It was a disappointing quarter as it also logged revenue and EBITDA guidance for next quarter missing analysts’ expectations significantly.
The Trade Desk had the weakest performance against analyst estimates and weakest guidance update in the group. The stock is down 19.9% since reporting and currently trades at $14.15.
Read our full, actionable report on The Trade Desk here, it’s free.
LiveRamp (NYSE:RAMP)
Serving as the digital middleman in an increasingly privacy-conscious world, LiveRamp (NYSE:RAMP) provides technology that helps companies securely share and connect their customer data with trusted partners while maintaining privacy compliance.
LiveRamp reported revenues of $214 million, up 9.8% year on year. This result met analysts’ expectations. More broadly, it was a mixed quarter as it also produced a solid beat of analysts’ adjusted operating income estimates but a poor net revenue retention rate.
The company lost 1 enterprise customers paying more than $1 million annually and ended up with a total of 132. The stock is flat since reporting and currently trades at $37.88.
Read our full, actionable report on LiveRamp here, it’s free.
Market Update
Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.
Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.
By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.
Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Growth Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.