Amazon's ad bonanza continues with $2.5 billion last quarter
Posted in: Uncategorized
Amazon’s ad business continued its breakneck growth last quarter, hitting $2.5 billion in sales, showing once again why the company is earning its place as the No. 3 digital advertising player behind Facebook and Google.
On Thursday Amazon released third-quarter earnings, and while investors were concerned about its forecast for this holiday quarter, advertising remained a bright spot. Ads are Amazon’s fastest-growing segment, climbing 123 percent year over year.
Overall, the e-commerce giant posted sales revenue of $56.6 billion in the third quarter, a 29 percent increase year over year. Amazon also hit record profits of $2.9 billion. Its forecast of $72.5 billion in sales in the fourth quarter, however, was lower than Wall Street analysts hoped.
Post a Comment