Amazon’s advertising business grew 20% in the second quarter

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’s advertising business grew 20% in the second quarter

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’s online advertising business brought in $12.77 billion during the second quarter, marking a 20% year-over-year increase, but missing analyst estimates.

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disclosed the latest quarterly financial results of its online advertising unit on Thursday when it reported its second-quarter earnings. The company’s overall second-quarter sales were $147.98 billion, trailing analyst estimates of $148.56 billion.

Analysts were expecting

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to report online advertising sales of $13 billion. The company’s online advertising unit is still small relative to its core online retail business, but it’s quickly growing and changing the digital advertising industry, in which Meta and Alphabet still dominate.

Indeed, Meta’s online advertising sales continue to improve after a tough 2022 when Apple introduced an iOS privacy update in 2021 that weakened the company’s ad-targeting system, along with smaller social media rivals like Snap and Pinterest.

On Wednesday, however, Meta reported second-quarter earnings that beat expectations and indicated that the company has rehabilitated its advertising technology. Indeed, Meta said that second-quarter overall sales, the bulk of which is comprised of advertising, 22% year-over-year to $39.07 billion.

Meta’s revenue growth rate was double that of rival

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’s ad business. When Alphabet reported its quarterly earnings last week, the company said its

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ad unit logged second-quarter sales growth of $64.6 billion, representing an 11% year-over-year increase.

Alphabet also said at the time that its second-quarter

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advertising sales were $8.66 billion, trailing analyst expectations of $8.93 billion.

Watch: 3-Stock Lunch: Meta,

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and Intel

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#Amazons #advertising #business #grew #quarter

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