Amazon's Online Advertising Skyrockets with $10.68 Billion
Amazon reported second-quarter sales for online advertising businesses reaching $10.68 billion, a 22% increase from the previous year. Overall sales for Amazon grew 11% year over year to $134.4 billion in the same quarter. One contributing factor to Amazon's success has been Meta's struggles with its core digital ad business. Meta reported an 11% year-over-year revenue growth in the second quarter, reaching $32 billion. Alphabet's second-quarter sales grew 7% year over year to $74.6 billion, with Google's advertising revenue rising by 3.3% and YouTube advertising unit sales growing by 4.5% year over year. Despite this growth, Amazon still represents about 7.3% of the worldwide digital ad market, with Alphabet and Meta holding the top positions with 28.8% and 20.5% of the global market, respectively.
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00:00 It's Benzinga and here's what's on the block.
00:02 Amazon reported second quarter sales
00:04 for online advertising business reaching $10.7 billion,
00:07 a 22% increase from the previous year.
00:10 Overall sales for Amazon grew 11% year over year
00:13 to 134 billion in the same quarter.
00:15 One contributing factor to Amazon's success
00:17 has been Meta's struggles
00:18 with its core digital ad business.
00:20 Meta reported 11% year over year revenue growth
00:22 in the second quarter, reaching $32 billion.
00:25 Alphabet second quarter sales grew 7% year over year
00:27 to 74.6 billion with Google's ad revenue rising by 3.3%.
00:32 For all things money, visit Benzinga.com.