Companies /Communication Services

Trade Desk Inc - Class A

NASDAQ: TTD Advertising Agencies
$13.78
▲ $0.06 (+0.44%) today
Markets closed · 8:25pm ET

Q2 2025 Earnings

Reported Aug 7, 2025, 4:21pm ET · SEC source
$0.41
Miss −0.92%
EPS · est. $0.41
$694.0M
Beat +1.17%
Revenue · est. $686.0M
−17.3%
Trailing market
TTD vs S&P since report
2 quarters
Consecutive EPS misses

Market Reaction

% change · around the report
0+20%+40%Aug 7Aug 8report 4:21pm ETearnings+0.9%−12.8%
0+20%+40%Aug 7Aug 8earnings+0.9%−12.8%
TTD −12.8%S&P 500 +0.9%
0+20%+40%Aug 7Aug 8report 4:21pm ETearnings+1.1%−12.8%
0+20%+40%Aug 7Aug 8earnings+1.1%−12.8%
TTD −12.8%NASDAQ +1.1%
−20%0+20%+40%Aug 6Aug 15report 4:21pm ETearnings+1.6%−19.3%
−20%0+20%+40%Aug 6Aug 15earnings+1.6%−19.3%
TTD −19.3%S&P 500 +1.6%
−20%0+20%+40%Aug 6Aug 15report 4:21pm ETearnings+1.3%−19.3%
−20%0+20%+40%Aug 6Aug 15earnings+1.3%−19.3%
TTD −19.3%NASDAQ +1.3%
−38.61%
Day of report
−1.95%
Next session
−3.89%
One week
−14.92%
30 days

S&P 500 over the same 30 days: +2.36%.

Did TTD Beat Earnings? Q2 2025 Results

The Trade Desk delivered a mixed second quarter for 2025, posting revenue of $694.04 million — an 18.7% year-over-year gain that edged past the $686.03 million consensus — while non-GAAP diluted EPS of $0.41 fell just short of the $0.4138 analyst estimate by 0.92%, enough to send shares sharply lower in the aftermath of the report. The earnings miss came despite Adjusted EBITDA expanding to $270.75 million, as platform operations costs climbed to $150.98 million from $110.46 million a year earlier, reflecting heavy infrastructure investment in the company's Kokai AI-driven advertising platform. Customer retention held above 95% for the eleventh consecutive year, underscoring the durability of Trade Desk's advertiser relationships even as <a href="https://247wallst.com/investing/2026/02/25/the-trade-desk-faces-its-most-important-revenue-test-after-a-67-collapse/">margin pressure weighs</a> on sentiment. Management guided Q3 revenue of at least $717 million alongside Adjusted EBITDA of approximately $277 million, signaling confidence that the platform investments driving near-term cost headwinds will translate into sustained growth through the second half of the year.

Key Takeaways
  • 19% year-over-year revenue growth outpacing the digital advertising market
  • Customer retention above 95% for the 11th consecutive year
  • Meaningful innovation across the Kokai platform in the first half of 2025
  • Significant progress in CTV, retail media, and supply chain optimization
  • Growing adoption of OpenPath among publishers

“Q2 was a strong quarter for The Trade Desk, with revenue growing to $694 million, up 19% year-over-year, as we continue to outpace the digital advertising market. The first half of 2025 has been defined by meaningful innovation across our platform. Kokai is helping advertisers drive better results by integrating more data into every decision, using AI as a co-pilot, and unlocking the full potential of first-party data. We've also made significant progress in CTV, retail media, and the supply chain, empowering the world's largest brands and agencies to reach audiences across the open internet. With continued innovation in Kokai, growing adoption of OpenPath, and deeper partnerships across the ecosystem, we're delivering exceptional value to our clients and helping to strengthen the open internet in the process.”

Trade Desk CEO, on the earnings call

Forward Guidance & Outlook

For Q3 2025, The Trade Desk expects revenue of at least $717 million and Adjusted EBITDA of approximately $277 million. The company did not provide a GAAP net income outlook due to the variability and complexity of stock-based compensation expense.

TTD YoY Financials

Q2 2025 vs Q2 2024 · SEC filings Q2 2024 Q2 2025
$0$200.0M$400.0M$600.0M$584.6M$694.0MRevenue$94.7M$116.8MOperating Income$85.0M$90.1MNet Income
$0$200.0M$400.0M$600.0MRevenueOperating IncomeNet Income

Figures from SEC filings and company reports. Not investment advice.