$Amazon.com(AMZN)$ Amazon's to

2023-11-01

$Amazon.com(AMZN)$ Amazon's total revenue growth accelerated to 13% year over year (YOY) after growing 11% YOY in the second quarter. The growth was led by a 25% gain in digital advertising sales, which reached $12 billion in the quarter. This comes despite an overall slowdown in the ad market this year. Amazon's ads, like product placement and display, are highly targeted at consumers actively shopping. This makes them extremely efficient and popular with advertisers.

Amazon Web Services grew 12% YOY (more on AWS below), and third-party seller and subscription services 18% and 13%, respectively. Amazon stock tends to trade on sales growth more than anything, which explains why the stock popped 8% after earnings.

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