Amazon shares climbed over 4% in after-hours trading on Thursday after the company beat Wall Street expectations for its third quarter of 2024, posting a wider-than-expected profit and an 11% year over year increase in revenue.
The results were bolstered by a 19% year over year increase in advertising services revenue to $14.3 billion, which includes sales to sellers, vendors, publishers, authors and others through programs such as sponsored ads, display and video advertising.
Net sales for its subscriptions services segment, which includes annual and monthly fees associated with Amazon Prime memberships, as well as digital video, audiobook, digital music, e-book and other non-Amazon Web Services subscription services, grew 11% to $11.3
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