Amazon’s advertising business continues to grow despite a general slowdown in digital advertising, which has hurt companies like Google parent Alphabet, Facebook parent Meta and Snap.
The online retail giant’s advertising services unit brought in $11.6 billion in sales for the fourth quarter, representing a 19% year-over-year increase, according to its earnings report Thursday.
Although Amazon’s advertising unit still constitutes a small fraction of the $149.2 billion in revenue the company recorded in its fourth quarter, it represents a fast-growing area that analysts believe could be a crucial player in the digital advertising market.
Read more about this at: cnbc