Amazon's advertising division reported $10.68 billion in sales during the second quarter, reflecting its ongoing growth in the last year. Meanwhile, Meta's core digital ad business has decreased, although the market is now showing indications of a tentative comeback. Last week, Meta declared its second-quarter earnings grew by 11% compared to the same period in the previous year, reaching $32 billion.
Amazon's online advertising business is growing as the weakened digital ad market begins to stabilize. The online retailer reported $10.68 billion in sales for the second quarter, which is a 22% increase from the same time the previous year and constitutes 7.3% of the global digital ad market, according to Insider Intelligence. Whereas, Alphabet and Meta still hold 28.8% and 20.5% of the digital sector. In comparison to the prior year, Amazon's ad business has been growing while Meta's has been declining. This shift was likely due to Apple's 2021 iOS privacy update diminishing the effectiveness of Meta's online advertising platform, leading firms--especially retailers--to divert their Facebook and Instagram advertising budgets to Amazon's platform in the hopes of generating more sales. Overall, Amazon's second quarter sales increased 11% over the past year, reaching $134.4 billion.
The launch date of this project is uncertain.
The date for the initiation of this project is uncertain.
Meta's online advertising business appears to be on the upswing as the digital ad market signals a modest rebound. Last week, the social networking firm released its Q2 figures which indicated a 11% uptick in revenue at $32 billion - the second successive quarter of growth following three quarters of losses. The augmented performance has been attributed to the company's efforts in optimizing its online ads platform following Apple's iOS overhaul. The news has sent investors into a buying euphoria, driving the stock's prices up 7%, after a year-long hiatus.Not to be left behind, Alphabet disclosed its own second-quarter numbers with revenues rising 7% at $74.6 billion. Google's ad income climbed 3.3% year-on-year to $58.14 billion. The advertisement segment within YouTube amounted to $7.7 billion, representing a year-on-year growth of 4.5%. This week, Pinterest reported its Q2 figures with sales increasing 6% to $708 million whereas the cost and expenses rose 11% to $781 million.In contrast to these, Snap recorded a 4% decrease in Q2 income to $1.11 billion, making it the second consecutive quarter of decreased yearly revenue.
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