In October 2017, Amazon announced their third-quarter earnings, which reported sales of $43.7 billion, up 34% compared to last year.
The more interesting part of the report is that $1 billion of that revenue actually came from advertising and is 58% of this year’s growth!
In Amazon CFO Brian Olsavsky’s statement, he said, “Advertising revenue continues to grow very quickly and its year-over-year growth rate is actually faster than the other revenue line item that you see there [in the ‘other’ category].”
Amazon is now going head to head with Google in product searches and has gotten the attention of retailers, brand advertisers, and search marketers. Looks like Amazon is catching up to Google and planning to surpass them…stay tuned!
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