Amazon ad revenue hits $7.9 billion, online sales slow

Adam Epstein, co-president of adware company Perpetua, said Buy With Prime could bolster Amazon’s shopping data and inform its advertising platform. “The Buy with Prime button is an entry point into every DTC website for Amazon to collect first-party conversion data,” Epstein said. “That’s how their ad business grows from $40 billion to $100 billion a year.”

On Monday, Amazon will host a NewFronts presentation as part of the Interactive Advertising Bureau’s ad sales convention that runs through Thursday. Amazon will showcase its ad platform and seek to win advertising budgets for its new Freevee service, which was formerly IMDb TV.

Upfronts and Newfronts 2022 TV Schedule

Amazon also continues to launch new product lines. Last quarter, the company launched a new internal brand called Amazon Aware, which is a line of apparel, home and beauty products marketed as eco-friendly. Amazon is also looking forward to its popular Prime Day, which is the annual online retail event scheduled for July this year.

Amazon is going through a tough consumer environment, CEO Andy Jassy said in the income statement. Sales rose just 7.3% year-over-year, the slowest pace of growth since 2001, and the first time Amazon has had consecutively lower quarters. 10% revenue growth.

“The pandemic and subsequent war in Ukraine has brought about unusual growth and challenges,” Jassy said. “As we no longer pursue physical capacity or staffing, our teams are focused squarely on improving productivity and profitability across our fulfillment network. We know how to do this and we have done it before. This may take some time, especially as we deal with inflationary and supply chain pressures. »

Amazon’s stock slid nearly 12% after hours.

—With Bloomberg News