In the third quarter, Amazon's advertising revenue increased by 19%.

• In the third quarter, Amazon's online advertising revenue increased by 19% compared to the previous year, reaching a total of $14.3 billion.
• The company said its overall third-quarter sales were $158.9 billion.
• Despite being a small part of Amazon's overall business, its online advertising division has grown significantly and is now a significant competitor to Alphabet and Meta, the leaders in the digital advertising market.

In the third quarter, the online advertising industry generated $14.3 billion, which is a 19% increase from the previous year, in accordance with analysts' predictions of $14.3 billion.

As part of its latest earnings report, Amazon disclosed the financial results of its expanding advertising business. Despite analysts' predictions of $157.2 billion in overall third-quarter sales, Amazon reported $158.9 billion in revenue.

Despite being a smaller part of Amazon's overall business, its online advertising growth has made it a significant competitor to Google and Meta, which dominate the digital advertising market. According to CNBC's data from Emarketer, Google currently holds 27.7% of the worldwide digital advertising market, Meta has 22.8%, and Amazon has 8.8%.

Meta's third-quarter revenue was $39.9 billion, a 19% increase from the previous year. This was slightly above analysts' expectations of $39.49 billion. Advertising accounted for 98.3% of Meta's total revenue in the third quarter.

In the third quarter, Alphabet generated $65.85 billion in ad revenue, a 10% increase from the previous year. Furthermore, the company's YouTube unit experienced a 12% year-over-year increase in advertising sales, reaching $8.92 billion.

Microsoft's search and news advertising revenue grew by 18% annually in the latest quarterly earnings report on Wednesday. The company does not reveal its advertising unit's specific quarterly sales figures.

On Tuesday, social media companies reported their latest earnings. Reddit's third-quarter sales increased by 68% year over year to $348.4 million, while Snap's third-quarter revenue rose by 15% from the previous year to $1.37 billion.