Amazon Advertising Revenue Soars Amid Ramp Up for 'Thursday Night Football'

Amazon saw its profits grow in the second quarter, reporting net income of $6.7 billion or $0.65 per diluted share, after reporting a net loss of $2.0 billion, or $0.20 per diluted share, in second quarter 2022. Net sales grew to $134.4 billion up from $121.2 billion in the second quarter of 2022. Sales in the company’s AWS cloud-computing segment grew 12 percent year-over-year to reach $22.1 billion.  Advertising revenue increased to $10.7 billion, from $8.8 billion a year ago. Amazon also reported its largest Prime day ever, which was held on June 11 and June 12, with customers purchasing more than 375 million items. In addition to mentioning Amazon’s success with AWS, which has ”stabilized as customers started shifting from cost optimization to new workload deployment,” according to Amazon CEO Andy Jassy, the company also highlighted new advertising capabilities surrounding Thursday Night Football.  “We’re also continuing to see strong demand for our advertising services as the team keeps innovating for brands, including the ramp up for Thursday Night Football with the ability for advertisers to tailor their spots by audience and create interactive experiences for consumers. We remain excited about what lies ahead for customers and the company,” said
Read More