Amazon ads is quietly becoming a profit engine

$AMZN ads has become one of the most important businesses inside Amazon.
The segment has reportedly grown into a $72B business in under five years, with no down quarter during that stretch.
Even on that scale, it is still growing around 23% YoY.
Amazon is now effectively the third scaled digital ad platform, with roughly 9% global share.
The key detail is profitability.
Ads may only be one part of Amazon’s revenue mix, but it now contributes around 35% of total income.
That makes $AMZN less of a pure e-commerce story and more of a retail data + advertising platform.