Amazon’s advertising revenue grew 24% to $US17.243 billion in the March quarter.
This was faster than the online retailer’s main business. Overall net sales increased by 17% to $181.5 billion.
“We’re making customers’ lives easier and better every day across all our businesses, and their response is driving significant growth,” said CEO Andy Jassy.
“AWS is growing 28% (our fastest growth in 15 quarters) on a very large base, our chips business topped a $20 billion revenue run rate (growing triple digits year-over-year), Advertising grew to over $70 billion in TTM (Trailing Twelve Months ) revenue, and unit growth in our Stores reached 15% (the highest since the tail end of covid lockdowns).”
Emarketer principal analyst Sky Canaves said Amazon’s results point to remarkably strong and resilient momentum across its core businesses, with accelerating growth in retail, cloud and advertising surpassing expectations.
“But a conservative guidance on Q2 operating income and sharp decline in free cash flow has dampened sentiment somewhat,” Canaves said.
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