Reddit vs. The Trade Desk: One's Revenue Growth Overtook the Other's Lead

Reddit (RDDT) just did what few would have predicted a year ago: its quarterly revenue surpassed The Trade Desk (TTD) for the first time. In Q3 2026, RDDT posted $895 million in revenue, up 53% year over year, driven by rising user engagement.

The contrast with TTD is stark. TTD's year-over-year growth has slowed from 22% to just 3%. The source attributes the deceleration to intensifying competition in digital advertising from Netflix (NFLX) and Reddit itself.

Interpretation: a 53% growth rate against a 3% rate suggests advertising budgets are shifting toward platforms with engaged, owned audiences and away from the independent ad-buying platform model. The crossover in absolute revenue is a symbolic marker, but the real signal is the divergence in growth trajectories, which is what typically drives valuation multiples apart.

The competitive narrative now has two named threats to TTD: RDDT's engagement-led ad growth and NFLX's expanding presence in the ad market. Investors holding TTD are watching a growth rate that has collapsed from 22% to 3%, while RDDT holders are watching a 53% pace that sets a demanding bar for future quarters.