Amazon Accelerates Accelerated E-Commerce Adoption During Covid-19 Pandemic.
Com announced second-quarter financial results that significantly exceeded Wall Street estimates and the company’s own instructions.
During the quarter, Amazon (verifier: AMZN) reported sales of $ 88.9 billion, well above the company’s own recommendations of $ 75 billion to $ 81 billion. Earnings were $ 5.2 billion, or $ 10.30 per share, about five times a Wall Street analyst agreed to $ 2.09 a share. Operating income was $ 5.8 billion, well above the company’s expectation that the quarterly margin would be equal.
Amazon shares jumped 4.9% after trading hours and have increased their 65% share gain so far.
Operating cash flow for the last 12 months was $ 51.2 billion, up 42% from the previous period.
Amazon said in June. Product sales for the quarter were $ 50.2 million. USD, ie 40.2%. Sales of services amounted to $ 38.7 billion, an increase of 38.7%. North American sales were $ 55.4 billion, up 43.4%. International sales were $ 22.7 billion, up 38.4%.
If there was a weak spot during the quarter, it emerged from the cloud. Amazon Web Services had sales of $ 10.8 billion, up 28.9%, slightly less than Street’s estimates, and is a likely source of revenue-raising discussions and post-earnings analysts. Missing AWS after a similarly small disappointment in June‘s
Azure public cloud.
“It was another very unusual quarter, and I couldn’t be more proud and grateful to my employees around the world,” Amazon CEO Jeff Bezos said in a statement. “As expected, we spent more than $ 4 billion during the quarter on additional Covid-19-related expenses to help protect employees and deliver products to customers at a time when there is a high demand …
“Since March, we have created more than 175,000 new jobs and are currently proposing to recruit 125,000 of these workers to their regular, full-time positions. Third-party sales grew faster this quarter than Amazon’s first-party sales. “
The company said it spent more than $ 9 billion during the quarter on capital projects related to enforcement, transportation and AWS.
In the third quarter, Amazon plans sales of $ 87 billion to $ 93 billion, or 24% to 33%, and operating income of $ 2 billion to $ 5 billion. Wall Street expected $ 86.3 billion in sales.
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