According to an earnings report, Amazon’s advertising services division saw revenue increase 18% year over year to USD 8.76 billion in the second quarter. Although Amazon’s advertising division has had a rocky start to 2022, it fared better than competitors during a testing second quarter.
After reaching USD 31.15 billion in ad revenue in 2021, the company began segmenting its business earlier this year. In contrast to how other digital platforms performed during a time of weak advertiser demand, ad sales have grown strongly. While exceeding estimates, Amazon’s Q2 net revenues increased by 7% year over year to USD 121.2 billion, even if its e-commerce business remained fragile.
According to recent Standard Media Index (SMI) data, Amazon led all retail media ad expenditure in the January to May quarter of this year by 50 percent, followed by Walmart.