The numbers

$694 million: Revenue for Q2 2025, up 19% year-over-year, and above the company’s prior guidance of $682 million.

22%: YoY revenue growth for the first half of 2025. Growth was 27% during the same period last year.

-30%: The Trade Desk stock fell in after-hours trading.

Three-quarters: The number of the Trade Desk clients using its core platform Kokai, with the bulk of spend running through it. Expects all clients will use it by the end of the year.

Watercooler talk

Despite a solid quarter for the Trade Desk, its stock tanked because its rate of growth slowed compared to previous quarters.

Moving on from Wall Street’s histrionics, company CEO Jeff Green brushed off the growing competition coming from Amazon, whose improving ad business has drawn some advertisers to

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