Amazon’s advertising business grew 19% in the third quarter

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’s advertising business grew 19% in the third quarter

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’s online advertising business brought in $14.3 billion in the third quarter, up 19% year over year, in line with analysts’ estimates of $14.3 billion.

The Seattle tech giant revealed the financial results of its growing advertising unit as part of its latest earnings report Thursday.

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’s overall third-quarter sales were $158.9 billion, ahead of analysts’ estimates of $157.2 billion.

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’s online advertising business is still a fraction of the company’s overall business, but its growth over the years has made it a major competitor to Alphabet and Meta, which lead the digital advertising market. Alphabet’s

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currently represents 27.7% of the worldwide digital advertising market, followed by Meta at 22.8% and

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with 8.8%, according to data provided to CNBC by Emarketer.

Meta’s third-quarter advertising revenue came in at $39.9 billion, which was up 19% compared with the year prior. That was slightly ahead of analysts’ expectations of $39.49 billion, according to StreetAccount. Ads accounted for 98.3% of Meta’s overall third-quarter revenue.

Alphabet generated $65.85 billion in third-quarter ad revenue, the company reported Tuesday. That was up 10% from $59.65 billion the year prior. Additionally, advertising sales for the company’s

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unit rose 12% year over year to $8.92 billion.

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#Amazons #advertising #business #grew #quarter

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