Amazon's online advertising business brought in $12.77 billion during the second quarter, marking a 20% year-over-year increase, but missing analysts' 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 online advertising unit is still small relative to its core online retail business, but it is quickly growing and changing the digital advertising industry, in which Meta and Alphabet still dominate.
On Wednesday, however, Meta reported second-quarter earnings that beat expectations and indicated that the company has rehabilitated its advertising technology.
Indeed, Meta said second-quarter overall sales, the bulk of which comprises advertising, increased 22% year over year to $39.07 billion.
Persons:
Meta
Organizations:
Amazon, Apple