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!
Alex Lim
Alex Lim is a certified book reviewer and editor with over 10 years of experience in the publishing industry. He has reviewed hundreds of books for reputable magazines and websites, such as The New York Times, The Guardian, and Goodreads. Alex has a master’s degree in comparative literature from Harvard University and a PhD in literary criticism from Oxford University. He is also the author of several acclaimed books on literary theory and analysis, such as The Art of Reading and How to Write a Book Review. Alex lives in London, England with his wife and two children. You can contact him at [email protected] or follow him on Website | Twitter | Facebook
