Amazon's Online Advertising Skyrockets with $10.68 Billion

Amazon reported second-quarter sales for online advertising businesses reaching $10.68 billion, a 22% increase from the previous year. Overall sales for Amazon grew 11% year over year to $134.4 billion in the same quarter. One contributing factor to Amazon's success has been Meta's struggles with its core digital ad business. Meta reported an 11% year-over-year revenue growth in the second quarter, reaching $32 billion. Alphabet's second-quarter sales grew 7% year over year to $74.6 billion, with Google's advertising revenue rising by 3.3% and YouTube advertising unit sales growing by 4.5% year over year. Despite this growth, Amazon still represents about 7.3% of the worldwide digital ad market, with Alphabet and Meta holding the top positions with 28.8% and 20.5% of the global market, respectively.