Amazon Leads Pack as Q2 Earnings Season Comes to Close
The Q2 earnings season has come to an end, and it's time to analyze the performance of online retail stocks. Amazon (NASDAQ:AMZN) and its peers have seen a surge in ecommerce growth driven by increasing wallet share, higher purchase frequency, and the migration of traditionally offline categories online.
The five online retail stocks being tracked reported strong Q2 results, with revenues beating analysts' consensus estimates by 2.1% and next quarter's revenue guidance 2.1% below. The stock prices have held steady, up 1.3% on average since the latest earnings results.
Amazon (NASDAQ:AMZN) reported revenues of $200.6 billion, a 19.6% year-over-year increase that exceeded analysts' expectations by 2%. AWS growth was a notable highlight, with a 36.7% year-over-year increase in Q2. Revolve (NYSE:RVLV) reported a strong quarter with revenues up 12.4% year over year, but its stock price is down 19% since reporting.
Coupang (NYSE:CPNG), the 'Amazon of South Korea', reported a mixed quarter with revenue growth falling short of analysts' expectations by 2.2%. Wayfair (NYSE:W) and Carvana (NYSE:CVNA) both had strong quarters, with Wayfair reporting revenues up 7.5% year over year and Carvana seeing a 52.4% increase in revenue.