EP230 - Amazon Q2 2020 Earnings Amazon Q2 2020 Earnings Amazon Q2 2020 Earnings Presentation Statement by Jeff Bezos to the U.S. House Committee on the Judiciary Revenue at $88.9B vs expectation of $80.7b, a 41% year over year growth. Earnings of $10.30 per share vs expectation of $1.90, a 51% year over year growth. Other Earnings Updates Shopify revenue up 97% to $714M (GMV now exceeds eBay) eBay revenue up 18% to $2.87B Don't forget to like our facebook page, and if you enjoyed this episode please write us a review on itunes. Episode 230 of the Jason & Scot show was recorded live on Thursday, July 31st, 2020. http://jasonandscot.com Join your hosts Jason "Retailgeek" Goldberg, Chief Commerce Strategy Officer at Publicis, and Scot Wingo, CEO of GetSpiffy and Co-Founder of ChannelAdvisor as they discuss the latest news and trends in the world of e-commerce and digital shopper marketing. Transcript Jason: [0:24] Welcome to the Jason and Scott show this is episode 230 being recorded on Thursday July 30th 2020 I'm your host Jason retailgeek Goldberg and as usual I'm here with your co-host Scot Wingo. Scot: [0:39] Hey Jason and welcome back to Jason and Scot show listeners. Well this is one of my favorite times of the quarter is when Amazon announces their results so, this is this episode is going to be a hot take we're going to go really deep and peel the onion on these results because I think they're really important given where we are as an industry but also to kind of see how Amazon's fearing doing this this crazy pandemic times. Before we dive into specifics though here's kind of the setup so you Amazon had a pretty good quarter in q1 the pandemic really was mostly felt. The shutdowns the shelter in place has kind of started what Jason like March 10th March 12th. Jason: [1:26] Mid-march. Scot: [1:27] Yeah so they had you know 75% of the corridor was pre covid and then only a small percent was kind of. Wrapped up in covid or 1590s whatever that ends up being the. This is a really the first quarter where we kind of understand what's going on here so from a macro perspective we just had GDP got printed that was down 32% so that's that's the yardstick with which we measure the economy gross domestic product so that's the biggest decline on record and then just to compare that you know Germany's down 10% China asterisks is up 3.2 percent everyone believes China kind of lies on their number so who knows what's really going on. Jason: [2:11] They're also sort of a quarter in the future like covid hit them earlier so that it that would almost comp against our yeah. Scot: [2:19] And then the companies one other interesting aspect is we were actually set to record this a week ago but Amazon uncharacteristically had a little bit of an extra time this time to get the results out so last year they result they announced on the 23rd and this year it's on the 30th, so that led a couple companies sneak in there usually Amazon is one of the first to report and then it's actually pretty interesting because they reported today with the bulk of the What's called the Fang stocks - Netflix so they Facebook was today Apple Amazon and then also. So so that was kind of a crazy day on CNBC there are running around with their hair on fire trying to cover all of that stuff. Jason: [3:03] Yeah the poor financial reporters. Scot: [3:05] Yeah yeah they were like and then they're all working from home so they can't they're talking over each other anyway and they were just it was total chaos anyway Shopify was able announced earlier in the week and their revenue shocked by being up 97% eBay also came out earlier this week and surprised everyone with 26% growth eBay has historically been flat to slightly down on their gmv growth so that was a really nice surprise and then on the show last week we had talked about that Goldman report I liked that talked about the impact of covid in what they were seeing they took a their own loo