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Shopify wins, Amazon stalls

Like a McFlurry, reports for these companies were mixed. If only they were Reese’s flavored, too…

Shopify is breathing easy again after beating revenue loss estimates with $1.37B in revenue—up 22% from Q3 and $30M more than expected.

Not only that, the total value of merchandise sold on the platform rose 11% to $46.2B.

Yes, it’s a narrow win, but an important one in a “post-covid transitional year.”

Ads save Amazon: Amazon reported disappointing results overall, but advertising revenue surpassed estimates, bringing in $9.55B vs. the predicted $9.48B.

Amazon grew 15% in Q3 and reported $127.1B in revenue, though it fell short of $127.46B estimates.

Also, operating income almost halved from 2021 to $2.53B.

Why we care: Big tech had a disappointing quarter overall, with most companies falling short of estimations. But considering the economic environment, it’s not surprising.

On the bright side, growth in advertising revenues could be a good omen for the holiday season going into 2023. Fingers crossed!

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