Amazon.com vs. Shopify: Comparing Revenue Trends and Scale for These E-Commerce Giants

The article compares Amazon and Shopify through the lens of revenue scale and growth, concluding that Amazon remains the much larger business while Shopify is growing faster in percentage terms. Amazon’s quarterly revenue rose from $148.0 billion in Q2 2024 to $181.5 billion in Q1 2026, with a 17% year-over-year increase in the latest quarter and a 17% net income margin reported for the quarter ended March 31, 2026. Shopify’s revenue increased from $2.0 billion to $3.2 billion over the same span, with 34% year-over-year first-quarter sales growth but a -18% net income margin. The article also highlights seasonality, with both companies posting their strongest sales in Q4 due to holiday demand. Market-wise, the piece is mildly supportive of AMZN because of its superior scale and lower valuation (price-to-sales of 4 vs. Shopify’s 13), while noting Shopify’s faster growth and AI-driven product expansion.