Clipart today’s ranking: What’s the e commerce business up to?
This week, the company released its annual e commerce earnings report and found it had revenue of $1.6 billion for the quarter, up 25 percent from the previous year.
The company says that the rise in e commerce spending helped it to post a 25 percent year-over-year increase in ad revenue and profit.
The firm says it saw $1 billion in additional revenue in its ad inventory over the same period.
That growth has resulted in the company’s third-straight quarter of revenue growth, which the company says is “a new high for a retailer.”
Clipart says that its sales growth is driven by its “continuing focus on delivering value to our customers and our advertisers.”
The company has been looking to diversify its offerings over the past several quarters, and its growth in ecommerce continues to drive its revenue.
For the full report, click here.