The world’s biggest advertising platforms have mostly shrugged off an annoying dip in the digital runway.
The latest profit results show the big three -- Google, Meta, Amazon -- with revenue growth in the right direction, even if that wasn’t as elevated as expected for some.
Snap and Pinterest also reported growth for the June quarter.
Meta, which is the second largest player in digital advertising after Google, shone despite heavy investment in an AI-led future.
The parent of Facebook and Instagram, reported better than expected revenue growth in the June quarter, up 22% to $US 39.07 billion.
Ad impressions increased by 10% and the average price per ad also rose 10%.
Amazon reported its advertising business growing 20% to $US12.77 billion in the June quarter. This was seen as just below expectations by market analysts of $13 billion.
The business is still small compared to Amazon’s retailing but is growing fast, putting it third in the world behind Google and Meta for digital advertising.
Google reported better than expected revenue in the June quarter, jumping 14% to $US85 billion. Advertising revenue hit $64.6 billion. Search was up 13.8% to $48.5 billion and YouTube was 13% higher at $8.66 billion
Some analysts pointed to a slowing in growth by YouTube. Its results were about 3% lower than Wall Street estimates.
However, analysts at investment bank Jefferies called the results "solid" and YouTube ad revenue was within estimates.
Microsoft also reported search and advertising revenue up 19% in the June quarter.
Snap reported advertising revenue up 10% to $1.13 billion in the June quarter as brands using its platform increased but investors market this down.
Pinterest reported a 21% rise in revenue to $845 million, with “advertisiers seeing improved performance” across the platform.
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