"When it comes to e-commerce, Amazon (NASDAQ: AMZN) is without equal. The company is the undisputed heavyweight champion of digital retail, with gross merchandise volume (GMV) of $790 billion in 2024. Despite the gargantuan size of its business, sales continue to grow, up 10% year over year in the third quarter. Amazon has risen through the ranks to become the world's second-largest retailer, behind only Walmart."
"Amazon Web Services (AWS) remains the leader of the cloud infrastructure industry it pioneered. In Q3, the company commanded a 29% share of the market, well ahead of Microsoft Azure and Alphabet's Google Cloud, with 20% and 13%, respectively. Furthermore, AWS revenue accelerated 20% year over year in the third quarter, generating 18% of the company's total revenue and 60% of operating income, showing there's still room to run."
"Advertising has been an area of focus for Amazon in recent years, and the company is seeing the fruit of its labors. The company generates ad sales from its e-commerce platform and Prime Video, as well as its live sports programming, among others. Amazon is now the world's third-largest advertiser, behind Google and Meta Platforms. Ad revenue increased 24% in Q3, accounting for 10% of Amazon's total revenue."
Amazon recorded $790 billion in gross merchandise volume (GMV) in 2024 and grew sales 10% year over year in the third quarter. The company is the world's second-largest retailer, behind Walmart. Strong online sales generate substantial cash flow that subsidizes expansion into high-potential businesses and optionality for future growth. Amazon Web Services held a 29% cloud market share in Q3, ahead of Azure and Google Cloud, with AWS revenue accelerating 20% year over year and accounting for 18% of total revenue and 60% of operating income. Advertising grew 24% in Q3 and now represents 10% of total revenue, making Amazon the world's third-largest advertiser.
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