Amazon's advertising business experienced a 19% increase in revenue in the third quarter, generating $14.3 billion, which was in line with analysts' expectations. This growth contributed to Amazon's overall sales, which reached $158.9 billion, surpassing estimates of $157.2 billion.

Although Amazon's advertising unit is a smaller part of its operations, it is becoming a significant competitor to industry leaders Alphabet and Meta. Meta also saw a 19% rise in advertising revenue in the third quarter, generating $39.9 billion, which exceeded analysts' forecasts. Ads accounted for 98.3% of Meta's total revenue for the quarter.

Alphabet reported a 10% increase in ad revenue, totaling $65.85 billion, with YouTube advertising sales increasing by 12% year-over-year to $8.92 billion. According to Emarketer, Amazon holds an 8.8% share of the global digital advertising market, trailing behind Alphabet's 27.7% and Meta's 22.8%.