Amazon has, for the first time, revealed its advertising revenue
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The company unveiled its advertising revenue for the first time. Its annual revenue amounts $ 31 billion US.
The retailer's total revenue accounted $ 469.8 billion US, while advertising set to become for about 7% of it.
Annual revenue in Amazon proliferated 22% to $ 469.8 billion US and net income was $ 24.9 billion US.
The company revealed its advertising revenue for the first time - $ 31 billion a year. Earlier, Amazon included it in the "Other" section. According to the report, advertising still accounts for a small portion of Amazon’s total revenue - about 7%, CNBC notes.
At the same time, Amazon earned nearly $ 12 billion US a quarter in November 2021 thanks to investments in the Rivian electric car maker.
Cloud services revenue grew $ 17.8 billion US in the quarter and $ 62.2 billion US for the year. Amazon has also decided to boost the Prime subscription price from $ 119 to $ 139 US per year for the first time since 2018.