Q3: The Trade Desk Delivers On Financials, But Is Its Vision Fact Or Fantasy? | AdExchanger

"There are standards across the open internet, including TTD's own Unified ID2.0 initiative, as well as OpenRTB fields, such as transaction IDs and global placement IDs, which "have become standards because of our innovations and insistence," he said. According to Green, there are "entire categories of companies" in programmatic - especially data vendors that rely on log files and open internet data collected from the OpenRTB bidstream - that "wouldn't be viable" if it were not for TTD keeping those data pipes open and ubiquitous, in contrast to the walled gardens."

"Green also said that many large CTV content owners and other premium online publishers increasingly depend on independent partners like TTD. "In fact," he said, "for most of them, we are the single largest source of third-party demand worldwide." Meanwhile, although investors tend to view AI developments as existential, TTD doesn't have a horse in the race when it comes to agentic and AI-generated search advertising, Green said, and neither is even a minor concern."

The Trade Desk reported Q3 revenue of $739 million, up 18% year over year, and net profit of $116 million, up 16% year over year. The company posted its second consecutive quarter meeting earnings estimates since a Q4 2024 miss. Investor sentiment has grown skeptical as TTD has become a large incumbent with more contentious relationships with sell-side ad tech companies. CEO Jeff Green emphasized TTD's role in creating open-internet standards like Unified ID2.0 and OpenRTB fields, claimed many publishers and data vendors rely on TTD, and downplayed AI-generated search advertising as a material threat. TTD processes roughly 20 million ad impressions per second, underscoring its scale.

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