Amazon (NASDAQ: AMZN) delighted investors with 20% year-over-year revenue growth in the second quarter.
Its cloud platform did particularly well, capturing headlines with 37% year-over-year revenue growth
It was only a few quarters ago that Amazon Web Services’ revenue growth rate was decelerating and in the low double digits. The narrative has shifted tremendously thanks to artificial intelligence, but it wasn’t just cloud computing that drove results. These are some of the other big wins from Amazon’s second quarter that investors may be overlooking.
Online advertising continues to accelerate Cloud computing and the online marketplace are the first things people think of when they think of Amazon, but the tech giant has turned itself into a top online advertiser. Revenue from its ads reached $19.8 billion in the second quarter, which was a 26% year-over-year improvement. That was almost 10% of total revenue, and ads also come with higher profit margins than e-commerce.