- Shares in Amazon fell 1.35% after the retailer annoucned second quarter earnings.
- Net sales increased 20% to $US63.4 billion but net income of $US2.6 billion was lower than expected.
- The revenue line for advertising revenue was 37% higher at $US3 billion
Amazon's revenue from advertising jumped by as much as 37%, according to the online retail giant's second quarter results.
The company's overall sales in the quarter were good, reporting $63.4 billion, up from $52.9 billion a year ago.
Amazon is forecasting a rise in sales of between 17% and 24% for the third quarter.
However, net income for the the June quarter was lower than analysts expected at $US2.6 billion.
The Other revenue line in Amazon's results, which contains mostly revenue from advertising, showed a 37% rise to $US3 billion.
According to calculations by eMarketer, Amazon's US ad business will grow 53% this year to $US11.33 billion. That gives Amazon an 8.8% share of the US digital ad market.
This year, 40% of Amazon's US ad business will come from mobile, up from 35% last year.
Australia wasn't mentioned in the results. International sales grew 12% to $US16.4 billion.
Amazon Advertising launched in Australia in April this year after quietly testing with a group of third party sellers on the local website.
In 2018 Amazon became the third largest digital ad seller in the US, ahead of Microsoft and Oath and behind Facebook and Google.
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