Walmart and Amazon are engaged in a new frontier of competition: website ad revenue.
“Walmart brought in about $2.1 billion revenue from advertising last year, so it’s definitely playing catch-up. But its reported 30% uptick in ad revenue last quarter was a bit of good news in an otherwise lackluster period. (More recently the company warned about weaker-than-expected results for the current quarter when it reports in mid-August.) Again this is a small fraction of the mega-chain’s $559 billion overall revenue last year, but it’s not chump change. For context, CNBC points out Snap’s ad-driven business had total revenue of $4.1 billion in 2021, and Pinterest reported $2.6 billion.“
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