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

Amazon’s The online advertising business brought in revenue of US$14.3 billion in the third quarter, an increase of 19% year-on-year, in line with analysts’ expectations of US$14.3 billion.

The Seattle tech giant disclosed the financial performance of its growing advertising unit in its latest earnings report Thursday. Amazon’s overall third-quarter sales were $158.9 billion, higher than analysts’ expectations of $157.2 billion.

Amazon’s online advertising business still accounts for a small part of the company’s overall business, but its growth over the years has made it a major competitor letter and Yuanleading the digital advertising market. According to data provided to CNBC by Emarketer, Alphabet’s Google currently accounts for 27.7% of the global digital advertising market, followed by Meta with 22.8% and Amazon with 8.8%.

Meta’s third-quarter advertising revenue was US$39.9 billion, a 19% increase from the same period last year. That was slightly higher than analysts’ expectations of $39.49 billion, according to StreetAccount. Advertising accounted for 98.3% of Meta’s total revenue in the third quarter.

Alphabet on Tuesday reported third-quarter ad revenue of $65.85 billion. This was a 10% increase from the previous year’s $59.65 billion. In addition, the company’s YouTube unit’s advertising sales increased 12% year-over-year to $8.92 billion.