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!