Amazon Advertising Accelerates
Amazon's SME advertising continues to grow, rising 21% from last year. Indeed, Amazon is now one of the leading advertising companies in the industry. It does all within its own Amazon ecosystem.
After buoyant results this week from Google, Meta and Microsoft, Amazon also beat analysts' first-quarter forecasts, topping profit estimates by almost US$3 billion. The Seattle-based firm notched a 9% revenue rise over last year — weak compared with its previously explosive growth, but enough to impress Wall Street amid an uncertain economy. Amazon's cloud business is seeing steady growth, even as businesses temper their spending, CEO Andy Jassy says. Amazon has also been reining in costs, laying off thousands and cutting businesses like its fitness-focused Halo products.
Amazon's ad sales rose 21% over last year, echoing strong results from Google and Meta in digital advertising.
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