NEW YORK -- Stephen Colbert has plenty of fun mocking President Donald Trump on his Late Show; he partly credits the president with rocketing him past Jimmy Fallon's Tonight Show in the ratings since early this year.

So it was only fitting that he continued the mockery Wednesday at Carnegie Hall, where a few thousand ad buyers came to hear CBS present its fall schedule.

“It’s a great year for the Late Show,” Colbert said, “and I could not have done it without a visionary leader, and a legend of television who made the Late Show what it is. Thank you, Donald Trump.”

The problem? He said the fast pace of the news in Washington makes his monologue, taped in late afternoon, quickly outdated.

"It's an honor every night to be on stage talking about that day's Trump scandal," he said. "Unfortunately, the hour I spend on stage means I'm often missing the breaking news of tomorrow's Trump scandal.

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"So by the time a monologue airs, I can sound as out of touch about what's going on in the White House as Sean Spicer does," he said, referring to the president's embattled press secretary.

And he knows he doesn't have a friend in Trump, who called him "a no-talent guy" to Time magazine.

"I understand that the president doesn't particularly like my show," Colbert said. "But thankfully, like his votes on election day, he's in the minority. Because right now The Late Show is No. 1 in late night."

Which CBS executives reminded ad buyers, again and again.