Record-breaking season for Amazon as it rakes in $14.65 billion ad revenues
The e-commerce company expects its net sales to range between $138 bn and $143.5 bn in Q1 2024, thus reflecting a growth of eight percent and 13 percent compared to Q1 2023.
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In the final quarter of 2023, Amazon generated $14.65 billion from its advertising services. The figure marks a 26.8 percent increase from the same period in 2022, as per reports.
Amazon expects its net sales to range between $138 bn and $143.5 bn in Q1 2024, thus reflecting a growth of eight percent and 13 percent compared to Q1 2023.
Chief executive officer of Amazon, Andy Jassy, said Q4 was a ‘’record breaking season '’. He explained that Amazon Web Services’ (AWS) focus on customers and feature delivery which was coupled with new genAI capabilities like Bedrock, Q and Trainium resonated with customers which began to reflect in overall results.
Jassy stated that Amazon’s advertising services continue to improve and drive positive results, its newer businesses are positively progressing and along with the company’s established businesses, its making customers’ lives ‘easier and better’ everyday.
Amazon went on to beat the Q4 expectations as new generative artificial intelligence (Gen AI) feature in its cloud and e-commerce business stimulated robust growth during the holiday report.
