Here are five things to know about the Seattle-based e-commerce and tech giant’s financial performance:
1. Amazon posted $52.9 billion net sales for the second quarter, up 39 percent from $38 billion during the same period last year.
2. Product sales comprised most of Amazon’s second-quarter earnings at $31.9 billion, up 29 percent from the second quarter of 2017. Amazon attributed its remaining $21 billion in earnings to service sales.
Amazon founder and CEO Jeff Bezos highlighted growth related to the company’s virtual assistant Alexa. “There are now tens of thousands of developers across more than 150 countries building new devices using the Alexa Voice Service, and the number of Alexa-enabled devices has more than tripled in the past year,” Mr. Bezos said in a news release. “We want customers to be able to use Alexa wherever they are.”
3. The company reported $6.1 billion in net sales attributed to Amazon Web Services, its cloud computing service. This marks a 49 percent increase from one year prior, when Amazon reported $4.1 billion in net sales from AWS.
4. The company posted $2.5 billion in net income, up 1,169 percent from $197 million during the second quarter of 2017.
5. Amazon expects its net sales for the third quarter of 2018 to be in the range of $54 billion and $57.5 billion.
More articles on business:
Google, GitHub’s first partnership centers on cloud development
Apple CEO Tim Cook acknowledges danger of Chinese tariffs, says he’s optimistic
Google, Microsoft, Facebook & Twitter team up to let users transfer data between apps
