Amazon has reported a 20% increase in its ad revenue to $12.7 billion for the second quarter of 2024 from $10.6 billion in 2023.
The e-commerce giant reported a 10% increase in net sales to $148 billion compared to the same period last year, with advertising revenue contributing significantly to this growth.
Amazon’s advertising business has experienced rapid expansion in recent quarters. The company’s ability to effectively leverage its massive customer base, coupled with advanced targeting capabilities, has positioned it as a formidable competitor in the digital advertising landscape. Advertisers are increasingly drawn to Amazon’s platform due to its potential to reach a highly engaged audience and drive conversions.
While Amazon Web Services (AWS) remains a substantial revenue generator, the company's advertising business is demonstrating accelerated growth and is becoming a more significant contributor to the overall financial performance. The strong performance of the advertising segment highlights Amazon's ability to diversify its revenue streams and reduce reliance on its core e-commerce operations.
Beyond advertising, Amazon's Q2 results showcased continued strength in other areas. The company's North America segment, which includes e-commerce and advertising, delivered solid growth. Additionally, AWS maintained its position as a leader in the cloud computing market with robust revenue expansion.
