(Adds analyst comment and updates shares)
By Alistair Barr
SAN FRANCISCO, July 11 Amazon.com Inc
shares hit another record on Thursday after e-commerce firm
ChannelAdvisor Corp released strong online sales data.
ChannelAdvisor reported that client sales on Amazon.com
jumped 30.6 percent in June, compared with the same month last
year. That year-over-year growth rate was up from May's rate of
"The 30.6 percent reading for June was above our
expectations," said Shawn Milne, an analyst at Janney Capital
Markets, who was expecting growth of 20 percent to 25 percent.
ChannelAdvisor also reported that client sales on eBay's
online marketplace rose 17.7 percent in June, compared
with a year earlier. May's growth was 16 percent year-over-year.
ChannelAdvisor provides solutions to help merchants sell
more on websites such as Amazon.com, eBay.com and Google Inc's
shopping site. Investors watch the firm's data closely because
it provides an early window into the performance of the leading
U.S. e-commerce companies.
The second quarter is typically one of the slowest periods
for online shopping, falling after the winter holiday buying
binge and before the back-to-school rush. However, the
ChannelAdvisor data suggests that Amazon and eBay performed
solidly at the end of the second quarter.
"Together, these data points show that in June, all
e-commerce channels performed better than in May,"
ChannelAdvisor Chief Executive Scot Wingo wrote in a blog on
Thursday. In May, "overall retail sales were muted due to
weather trends, which seem to have dissipated in June."
Amazon shares rose 2.1 percent to $298.39 in afternoon
trading Thursday, having earlier touched a record $298.40. On
Wednesday they reached a high of $293.34.
EBay shares rose 1.7 percent to $55.81 in afternoon action
EBay is an investor in ChannelAdvisor.
(Reporting by Alistair Barr; Editing by Gerald E. McCormick,
Chris Reese and Gunna Dickson)