Amazon Q2 Earnings Skyrocket

Profits up a whopping 832%
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Amazon reported second-quarter earnings of $857 million for the three months ended June 30, an 832 percent increase year over year.

Amazon reported second-quarter earnings of $857 million for the three months ended June 30, an 832 percent increase year over year.

Net sales rose a more staid but still highly respectable 31 percent, to $30.4 billion.

Once again the e-tailer’s Amazon Web Services unit (AWS) proved itself a margin powerhouse, generating a 120 percent pop in operating income of $863 million, on net sales of $2.9 billion, up 58 percent from last year.

In North America, operating income increased 102 percent, to $702 million, and net retail sales rose 28 percent, to $17.7 billion. Of that, electronics and other general merchandise comprised the biggest chunk at $14.5 billion, up 32 percent.

The company invested $3.9 billion in technology and content, up 28 percent, and a nearly equal amount on fulfillment, representing a 35 percent increase.

Looking back over the quarter, Amazon said its second annual Prime Day promotion was its “biggest day ever.” Worldwide orders grew by more than 60 percent, orders from third-party sellers with Prime Day deals nearly tripled, and a record was also set for Amazon devices globally.

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