Amazon Earned $636 Per Second in 2023, more than Alibaba and Pinduoduo Combined

Last year, the global eCommerce industry was valued at almost $3 trillion, more than the expected 2024 nominal gross domestic product of countries like Canada, Brazil, or Italy. As the single largest player in this market, Amazon had the lion’s share of total sales, generating more revenue and profit than any other eCommerce giant.

According to data presented by Stocklytics.com, Amazon earned $636 per second in 2023, more than its Chinese rivals Alibaba and Pinduoduo combined.

Alibaba Earned $430 Per Second Last Year, Pinduoduo Followed with $204

After a considerable sales and profit plunge in the second half of 2022, the eCommerce giant Amazon successfully bounced back in 2023 and reported its second-highest annual net income ever. Last year, the company earned $3 billion less than in record-breaking 2021, once again proving itself the most important player in the market by a considerable margin. The Statista and Macrotrends data show just how wide that margin is.

Amazon’s net income for the twelve months ending December 31, 2023, was $30.4 billion, fully recovering after a $2.7 billion plunge in 2022. This figure is even more impressive when broken down to a shorter time scale of net per second. Based on Amazon’s profit in 2023, the company earned $636 per second last year or more than its Chinese competitors Alibaba and Pinduoduo combined.

Alibaba Group, the owner of AliExpress, Taobao, and Alibaba.com, which holds an 80% retail share in the country, earned $430 per second, making $13.8 billion for the full year. All other eCommerce giants were far below these figures. Statistics show that Pinduoduo, the Chinese mobile-only marketplace, earned $204 per second in 2023, or three times less than Amazon. JD.com and eBay followed, with net income per second of $107 and $88, respectively.

Amazon is Now Worth 3x more than the Next Five Largest Ecommerce Giants Combined

Besides having the highest net income of all eCommerce giants, Amazon added more than $900 billion to its stock value in the past year. In March 2023, the company’s market cap was around $960 billion. Since then, this figure has doubled and hit $1.82 trillion last week.

That means that the US ecommerce giant is now worth three times more than the next five largest eCommerce companies combined. Alibaba’s stock value hit over $183 billion last week, almost ten times less than Amazon’s. Pinduoduo was the only other company somewhat close to that figure, with a market cap of $146.5 billion at the time of writing. Far below JD.com, eBay and Rakuten followed, with $38.9 billion, $26 billion, and $11.99 billion in stock values, respectively.

The huge gap between Amazon’s and other eCommerce giants’ stock values could become even wider in the future. Last week, Amazon stocks were traded at $175. According to Stocklytics AI price predictions, this figure could touch over $200 in the next twelve months.