Bernstein analysts said Amazon (AMZN.O) Q3 ad revenue missed expectations, slowing to 12% YoY, which could intensify investor concern that AI is disrupting search-based monetization and echoes questions raised after ALPHABET’s results earlier this we

2026-10-30

Bernstein analysts said Amazon (AMZN.O) Q3 ad revenue missed expectations, slowing to 12% YoY, which could intensify investor concern that AI is disrupting search-based monetization and echoes questions raised after ALPHABET’s results earlier this week. Bernstein noted ads remain a key profit driver for Amazon; the shortfall increases scrutiny despite Amazon’s optimistic Q4 ad-growth guidance.