Amazon announced that its advertising business revenue has been pushed up by 87% YOY to $7.9 billion in Q2. This was raised from 41% YOY growth to 77% in the previous quarter. The company also stated that it has introduced 40 new features, self-services in this quarter and planning to expand these services in Australia, Europe, India, Japan and Saudi Arabia. In the U.S. digital advertising market, Amazon’s share is higher than 10% for the first time in 2020 and this would continue to rise as more spending comes from TV, search and other digital platforms.
The Chief Financial Officer of Facebook David Wehner announced that its revenue gain was rose by 56% to 29.1 billion in Q2, this was with the help of Apple not rolling out iOS 14.5. Moreover, this is due to strong privacy settings. The company net income of $10.4 billion is significantly couple times greater than the $5.2 billion which was posted in the previous year. There are 2.9 billion monthly active Facebook users as of June 30, which is a 7% rise year over year, and an average of 1.9 billion daily active users in June, also raised by 7%.
Adam Mosseri, the head of Instagram, announced that from now Instagram is more concentrated on four key factors that include creators, video, messaging and shopping. The recent survey by eMarketers states that social commerce in the U.S has been increasing day by day. In 2021, the sales were pulled up by 35.8% to $36.62 billion from $26.97 billion in 2020. By 2025, eMarketer predicts that social commerce sales would reach $79.64 billion. As per NPD’s fashion apparel report, about 51% of the users who saw the content while scrolling the Facebook and Instagram feed resulted in a purchase.
Google has reported that its revenue rose $61.88 billion in Q2 from 62% in 2020. The profits have been multiplied to $18.53 billion, with per-share earnings ramp up analysts’ predictions. The company earned $50.44 billion in sales through advertising and a 69% rise with the help of the red hot U.S. market. YouTube’s advertising business bagged $7 billion in revenue, which is up by 84% from the previous year.
The number of daily users logging on to Twitter surged by 11% in Q2, it clearly indicates that many of the users are still using short-message service even some countries start reopening after the pandemic. The Twitter visitors rose to 206 million in the last quarter of June, the key constraints for the raise are due to the strong YOY development to product improvements and interest in current events. As per the Thomson Reuters survey, the company revenue is from advertising, which is a 74% increase in quarterly revenue to $1.19 billion. US daily active Twitter users declined by 1 million to 37 million from the first to the second quarter.