Here are four things to know about the tech giant’s earnings:
1. Amazon reported net sales of $63.4 billion in the second quarter of 2019, an increase of 20 percent year-over-year. That growth is significantly higher than the first quarter’s 16.8 percent year-over-year increase in revenues, the slowest the company had reported since 2015.
2. The company’s net income increased to $2.6 billion, compared to $2.5 billion in the second quarter of 2018.
3. Though Amazon Web Services, which provides a cloud computing platform to clients in the public and private sectors, reported 37 percent year-over-year growth in the second quarter, this marked the first time since 2014 that AWS growth dropped below 40 percent, according to CNBC. In the first quarter of 2019, AWS grew 41 percent year-over-year.
4. In its earnings report, Amazon predicted net sales in the third quarter of 2019 to total between $66 billion and $70 billion, a 17 to 24 percent year-over-year increase.
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