Home » Latest News » US E-commerce Daily Update (Feb 04): Amazon’s Staggering Profit Growth, TikTok’s Revenue Milestone

US E-commerce Daily Update (Feb 04): Amazon’s Staggering Profit Growth, TikTok’s Revenue Milestone


Amazon: Dominating the E-commerce Landscape

  • Amazon’s Q4 Earnings Skyrocket: In a recent financial disclosure, Amazon reported a 37-fold increase in net profit for Q4 2023. The e-commerce giant saw its net sales climb 14% to $169.61 billion, with revenue escalating to $13.2 billion from $2.7 billion in the same period of 2022. The net profit soared to $10.6 billion, a significant jump from the previous year’s $300 million.
  • Annual Financial Highlights: Throughout 2023, Amazon’s net sales rose by 12% to $574.8 billion, compared to $514 billion in 2022. The company’s revenue surged from $12.2 billion to $36.9 billion, with net profit reaching a remarkable $30.4 billion, overturning a net loss of $2.7 billion in 2022. Earnings per share improved dramatically from a $0.27 loss to a $2.9 gain.

TikTok: A New Force in Digital Revenue

  • TikTok’s Revenue Triumph: ByteDance’s TikTok emerged as a revenue powerhouse in 2023. As per data.ai, the social media app’s in-app purchase revenue hit an extraordinary $4 billion, securing the second spot in non-gaming app revenue globally, trailing only behind YouTube. This milestone pushed TikTok’s lifetime revenue beyond the $10 billion threshold.
  • Unprecedented Download Numbers: TikTok also achieved a new record in download figures for 2023. According to App Magic, the app was downloaded a billion times last year, topping the global app download chart. This surge in downloads brings TikTok’s total to an astounding 5.17 billion over the years.
  • TikTok’s Marketing Edge Over Instagram: Data from Captiv8 indicates that TikTok influencers had a 5.3% engagement rate on affiliate links in 2023, more than doubling the rate of Instagram influencers and significantly outperforming YouTube. This statistic underscores TikTok’s growing dominance and effectiveness in influencer marketing and monetization strategies.

Was this article helpful?

About The Author

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top