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Amazon’s Q4 ad revenue growth outpaces Google as it spends heavily on AI

Article by Marisa Jones  |  Feb 5, 2026
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Amazon’s Q4 ad revenue growth outpaces Google as it spends heavily on AI
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Topics
Digital Advertising
Digital Ad Spending
Retail Media
United States
Worldwide

The news: Amazon reported another strong quarter for its growing ad business. Q4 2025 ad revenues were up 23% YoY to $21.3 billion. Overall revenues increased 14% to $213.4 billion.

Earnings per share fell slightly under expectations, and Amazon’s plan to spend $200 billion in 2026—well above estimates of $146.6 billion—sent a pang of worry through investors.

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