Amazon's online advertising business brought in $12.77 billion during the second quarter, marking a 20% year-over-year increase, but missing analyst estimates.
Amazon 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.online advertising business brought in $12.77 billion during the second quarter, marking a 20% year-over-year increase, but missing analyst estimates.Analysts were expecting Amazon to report online advertising sales of $13 billion.
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.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.