Amazon now has a $1 billion ad business

Amazon is making good on its promise to eat advertising.

In its third-quarter earnings report today, the e-commerce giant said it saw “other” revenue, which is mostly composed of ad sales (and to a much smaller extent, its credit card business), grow 58 percent year over year to $1.12 billion. That’s a slight increase from the growth rate in the prior second quarter, when it grew 53 percent year over year.

To read more on Amazon's ad business, click here.