As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q2. Today, we are looking at advertising software stocks, starting with PubMatic (NASDAQ: PUBM).

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. On average, they are relatively unchanged since the latest earnings results.

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. This print exceeded analysts’ expectations by 13.7%. Overall, it was an incredible quarter for the company with EBITDA guidance for next quarter exceeding analysts’ expectations and revenue guidance for next quarter exceeding analysts’ expectations.

PubMatic scored the biggest analyst estimate beat and highest guidance raise in the group. Unsurprisingly, the stock is up 20.6% since reporting and currently trades at $16.26.

Is now the time to buy PubMatic? Access our full analysis of the earnings results here, it’s free.

Zeta Global (NYSE: ZETA)

Powered by an AI engine that processes over one trillion consumer signals monthly, Zeta Global (NYSE: ZETA) operates a data-driven cloud platform that helps companies target, connect, and engage with consumers through personalized marketing across channels like email, social media, and video.

Zeta Global reported revenues of $442.8 million, up 43.5% year on year, outperforming analysts’ expectations by 5.2%. The business had a very strong quarter with an impressive beat of analysts’ billings estimates and full-year EBITDA guidance beating analysts’ expectations.

The market seems happy with the results as the stock is up 17.8% since reporting. It currently trades at $28.58.

Is now the time to buy Zeta Global? 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 13.6% 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 missed analysts’ expectations by 4.9%. Overall, it was a disappointing quarter as it also logged revenue guidance for next quarter missing analysts’ expectations significantly 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 25.9% since reporting and currently trades at $13.09.

Read our full, actionable report on The Trade Desk here, it’s free.

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 result lagged analysts’ expectations by 1.2%. It was a softer quarter as it also recorded 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 among its peers. The stock is down 25.6% since reporting and currently trades at $310.98.

Read our full, actionable report on AppLovin 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.