Amazon beats revenue estimates, led by advertising and AWS

Amazon beat revenue estimates ($121.23bn versus $119.09bn expected) led by impressive revenue in Amazon Web Services ($19.7bn versus $19.56bn expected) and advertising ($8.76bn versus $8.65bn expected).

The positive advertising numbers provided a boost to the digital advertising market after other digital advertising companies disappointed on earnings.

Facebook reported its first-ever revenue loss on Wednesday while Twitter and Snapchat also disappointed; Google showed slowed advertising growth of 12%, including a significant deceleration in YouTube ad revenue growth to 5%.

Amazon’s stock was up over 12% in pre-market trading on the news.