Amazon now has a $1 billion ad business

Amazon is making good on its promise to eat advertising. In its third-quarter earnings report today, the e-commerce giant said it saw “other” revenue, which is mostly composed of ad sales (and to a much smaller extent, its credit card business), grow 58 percent year over year to $1.12 billion. That’s a slight increase from the growth rate in the prior second quarter, when it grew 53 percent year over year.

(For comparison’s sake, Alphabet, Google’s parent company, which also reported third-quarter earnings today, reported ad sales at $24 billion. Facebook’s second-quarter ad sales were $9 billion; the company reports third-quarter earnings on Nov. 11.)

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