E-Commerce behemoth Amazon.com Inc has exceeded Wall Street's expectations in the second quarter (Q2) of 2023 with an impressive 11% year-on-year rise in earnings results. This propelled a surge in market share and value before the first weekend of August.
Consequently, Twitter (now known as X) influencer conversations around Amazon saw a dramatic increase, reveals the Social Media Analytics Platform of GlobalData, a leading data and analytics company.
Smitarani Tripathy, Social Media Analyst at GlobalData, comments: “Advertising revenue was one of the most discussed topics among the Twitter influencers, as it recorded an impressive growth of 22% in Q2.
"Other discussed key topics were Cloud, AI, Retail, and e-Commerce. Influencers predict e-Commerce business will keep growing with more affordable and efficient cloud computing.”
Below are a few popular influencer opinions captured by GlobalData’s Social Media Analytics Platform:
1. Ryan Henderson, Investor at Arch Capital:
“$AMZN Impressive growth from Amazon’s advertising business. $41 billion in LTM revenue, growing 22% YoY. That’s more advertising revenue than Google added in the last year.”
2. Tanay Jaipuria, Partner at Wing Ventures:
“Amazon's ads business is now at a $42.5B run rate still growing 20+% per year. It's a bigger business than each of YouTube and Netflix”
3. Tom Craig, Global Supply Chain/Logistics Consultant & Advisor:
“Amazon's $AMZN shares up over 7% on cloud, consumer sales lift. It will be interesting to see how #retail competitors #ecommerce do.”
4. Rahul Sharma, Managing Director, Neev Capital
“Folks always want to talk about AWS all the time. But in Q2 alone, US retail grew sales by $8 billion on huge base of $74 billion. $AMZN has clearly adjusted to post Covid boom & growing fast again. Just an incredible brand. $TGT $WMT”
5. Beth Kindig, Lead Analyst at I/O Fund:
“Online commerce is driving significant growth in the cross-border e-commerce market: growth is projected at a 25.5% CAGR to surpass $5.5T by 2030.”
Following this success, Amazon anticipates operating income results of between $5.5bn and $8.5bn in Q3 FY23.
