Amazon Ad Outlook Upgraded By Billions

Citing a “noticeable uptick in enthusiasm for Amazon’s ad business,” Wall Street securities firm BMO Capital Markets upgraded its outlook for Amazon’s ad revenues for the fourth quarter of 2018, as well as full years 2019 and 2020. “We now estimate $9.21 billion in advertising revenue in 2018 (versus our prior $9.06 billion), $13.72 billion in 2019 (versus our prior $12.97 billion), and $18.71 billion in 2020 (versus our prior $17.58 billion).”

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