Amazon net income dips 77% in Q2 2017: 5 things to know

Amazon released its second quarter earnings results July 27.

Here are five things to know about the company's performance.

1. Amazon reported $37.96 billion in net sales for the second quarter, up 25 percent from $30.4 billion in 2016.

2. Amazon Web Services posted $4.1 billion in net sales, up from $2.89 billion during the second quarter of 2016.

3. The company's net income dropped 77 percent, from $857 million during the second quarter of 2016 to $197 million during the second quarter of 2017.

4. Amazon's diluted earnings per share was $0.40 in the second quarter of 2017, down from $1.78 one year prior.

5. The company expects its net sales for the third quarter of 2017 to be between $39.25 billion and $41.75 billion. It projects operating income to either be a loss of up to $400 million or a gain of up to $300 million.

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