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Amazon’s ad business a ‘mixed bag’ as Q1 sales soar, profits tumble

Dive Brief:

  • Reporting on a period that came to be dominated by the COVID-19 pandemic,  Amazon​ on Thursday reported that first quarter net sales, including its AWS cloud services, rose 26% to $75.5 billionaccording to a company releaseAmazon’s advertising and other revenue increased 44% during Q1 for a total of $3.9 billion.
  • Online product sales rose 24% year over year to $36.7 billion, falling from last quarter’s $45.7 billion, with physical store sales up 8% year over year to $4.6 billion. Revenue from sellers, who move more than half the goods sold on the site,
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