Amazon's ad revenue up by 20% in Q2 of 2024; Net income doubles to $13.5 billion
Amazon.com reported ad sales of $12.77 billion. Overall, the global e-commerce giant revenue was up by 10% to $148 billion in the second quarter compared with $134.4 billion in Q2 2023
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Amazon.com's initiative of adding advertising to its Prime Video has helped to drive up its revenue as per the company's second-quarter earnings for the current calendar year.
The e-commerce-to-streaming conglomerate ad revenue was up by 20% in Q2 of 2024. Amazon.com reported ad sales of $12.77 billion.
According to a report by Variety, Amazon President and CEO Andy Jassy announced that Prime Video had surpassed 200 million monthly viewers and touted the service's addition of advertising.
Prime Video also spruced up the user interface to boost engagement.
Overall, the global e-commerce giant revenue was up by 10% to $148 billion in the second quarter compared with $134.4 billion in Q2 2023.
International segment sales increased 7% year-over-year to $31.7 billion, while the AWS segment sales increased 19% year-over-year to $26.3 billion.
The company's net income doubled to $13.5 billion in the second quarter or $1.26 per diluted share, compared with $6.7 billion, or $0.65 per diluted share, in the second quarter of 2023.
For the third quarter, Amazon.com has predicted the net sales to be between $154.0 billion and $158.5 billion, or to grow between 8% and 11% compared with the third quarter of 2023. Besides, the company projected its operating income between $11.5 billion and $15.0 billion in the next quarter.
