Amazon's ad business continues to surge, raking in $2.2 billion during the second quarter, the company revealed during second-quarter earnings. Amazon buckets the revenue into a line item called "other" that primarily comes from advertising.
Amazon reported $52.9 billion in revenue during the quarter, down slightly from analysts' expectations. "Other" income jumped 129 percent year-over-year. The company reported $2 billion in "other" revenue during the first quarter.
To read more about Amazon's burgeoning ads business, click here.
In related news:
Amazon's stock popped 3% after it blew Wall Street away by reporting a record $2.5 billion profit. Although its revenue fell shy of projections, investors still applauded the results, sending the stock up as much as 4% in after-hours trading.
In other news:
Twitter plummets 18% pre-market after reporting a decline in monthly active users. Twitter blamed the active user decline on new European privacy rules and its decision not to move to paid SMS carrier relationships, and on its efforts to clean up the platform.
Facebook just promoted a key exec — and the move hints at the company's future advertising plans. Mark D'Arcy has been promoted to VP of global business marketing and chief creative officer, a role that oversees Facebook's team of creative strategists and its more traditional marketing function.
Facebook employees react to the company's massive stock-drop: 'I feel like s--t.' In messages seen by Business Insider on Bild, employees said they "feel like shit" and blamed over-hiring for Facebook's woes.
Facebook joined YouTube in scrubbing videos from pages belonging to InfoWars conspiracy theorist Alex Jones. Facebook has removed four videos on pages belonging to InfoWars and its founder, Alex Jones, for violating the company's community standards, according to CNN.
Cheddar is making a push onto the cable dial, reports The Wall Street Journal. The company this week went live on WOW, a Denver-based cable and broadband provider with close to 800,000 subscribers.
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