Analysis of the impact of revenue structure on Amazon platform share prices

Amazon originated as a digital platform in the online retail industry but rapidly expanded into multiple sectors, creating a complex platform ecosystem. While previous studies have extensively examined Amazon's business model and financial performance, limited attention has been paid to how changes in its revenue structure relate to the long-term dynamics of its share price. This paper addresses this gap by investigating the relationship between Amazon's evolving revenue composition, key financial performance indicators, and stock price trends. The study employs a longitudinal financial analysis covering fourteen years. It examines changes in the corporation's revenue structure, with particular emphasis on Gross Profit and Net Service Sales, and compares these indicators with the long-term movement of Amazon's share price. The analysis focuses on the characteristics of the platform economy, especially the role of zero marginal cost effects in supporting sustainable growth. The findings demonstrate the exceptional stability of Amazon's operations, reflected in the continuous growth of total revenues, Net Service Sales, and Gross Profit. The results further indicate that the company's share price closely follows these positive revenue trends, suggesting that the evolution of its revenue structure is associated with long-term market valuation. The study contributes to the literature on platform economics by providing empirical evidence on the relationship between revenue structure and stock performance in a leading digital platform ecosystem.