- Amazon earned US$7.78 billion in net income on US$113.08 billion in net sales.
- Online store sales grew 16%, while sales at Amazon Web Services rose 32%.
- Amazon’s stock plunged over 5 percent in aftermarket trading.
Amazon.Com Inc. (NASDAQ: AMZN) on July 30 posted around 50 percent year-over-year growth in its second-quarter net income as the company recorded more than US$100 billion in net sales for the third consecutive quarter.
The Seattle-based e-commerce and technology giant’s second-quarter net income rose to US$7.78 billion, or US$15.12 per share, compared with the US$5.24 billion, or US$10.30 per share in the year-ago quarter.
Amazon’s consolidated net sales increased 27 percent to US$113.08 billion during the three months ended June 30 from US$88.91 billion in the same quarter of the previous year. While announcing its first-quarter results, Amazon had said it expects second-quarter net sales to grow up to 30 percent.
Amazon had reported US$8.11 billion net income in its first quarter on net sales of US$108.52 billion.
Amazon’s stock fell over 4 percent in the after-hours trading on Thursday.
Amazon’s net product sales increased to US$58 billion from US$50.24 billion, while net service sales jumped to US$55.08 billion from US$36.67 billion in the year-ago quarter.
Online store sales came in at US$53.16 billion, up 16 percent year over year. Amazon Web Services sales surged 32 percent to US$14.81 billion.
Net sales from subscription services associated with Prime memberships, digital video, audiobook, digital music and e-book services climbed 32 percent to US$7.91 billion. Third-party seller services sales increased 38 percent to US$25.09 billion.
Net sales from its North American segment totaled US$67.55 billion, while the international segment reported US$30.72 billion in net sales.
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In the second quarter, Amazon announced its US$8.45 billion deal to acquire MGM Studio.
READ MORE: Amazon Announces US$8.45B Deal To Buy MGM
Amazon projects its net sales during the third quarter to grow between 10 percent and 16 percent to the range of US$106 billion to US$112 billion.
Amazon currently has a market cap of US$1.816 trillion. It has a P/E ratio of 69.06.
The stock returned 10.43 percent year to date and was traded between US$2,871.00 and US$3,773.08 in the last one-year period.
Amazon’s stock ended Thursday’s trading at US$ 3,599.92, down 0.84 percent.
Please note: The above constitutes a preliminary view, and any interest in stocks/cryptocurrencies should be evaluated further from an investment point of view.
The reference data in this article has been partly sourced from Refinitiv.