Amazon's profit surpasses $2bn after boost from cloud and Prime

Alexa will be integrated into LG's next smart fridge

Alexa will be integrated into LG's next smart fridge

Amazon has released new sales data after its 36-hour Prime Day savings event ended on Thursday. Trading volume, or volume, is the number of shares or contracts that indicates the overall activity of a security or market for a given period.

The company during the most recent three quarters pulled in $6 billion in net income, a sum almost equal to its $6.1 billion profit during the prior 21 years. On a per-share basis, Amazon's earned $US5.07, which was more than twice what analysts had projected.

Olsavsky said Amazon is working on improving automation tools for advertisers and making smarter recommendations for customers.

It also announced the general availability of Amazon Neptune, a fast, reliable, and fully-managed graph database service. This is the second-straight quarter when this category surpassed $2 billion in revenue.

Revenue: $US52.88 billion. Analysts were looking for $US53.35 billion.

Earnings per share: $US5.07. They expect $0.35 EPS, up 2.94 % or $0.01 from last year's $0.34 per share.

Revenue: $US54 billion to $US57.5 billion. Wall Street's prior forecast was $US58.03 billion.

Operating income: $US1.4 billion to $US2.4 billion. Forward P/E of, standing at 90.14. Following the transaction, the chief financial officer now directly owns 1,781 shares in the company, valued at $2,827,337.50. STONESIFER PATRICIA Q sold 1,375 shares worth $2.17 million.

All of this growth comes as Amazon does something that once seemed unthinkable: it consistently turns a profit.

The company said that it is working on operational efficiency.

But Amazon's results were more than just a product of a stronger dollar.

Outside of North America, things were even worse for the Bezos Bunch. Net sales for Amazon Web Services, or AWS, climbed to $6.1 billion, which is up from $4.1 billion during the same period in 2017. Amazon's total sales hit $52.9 billion, an increase of 39 percent year over year. But investors remain enthused because the Seattle-based company has generated net income of $4.16 billion in the first half of this year, more than the previous seven quarters combined, according to data compiled by Bloomberg.

The online retailing giant's Amazon Web Services (AWS) cloud business is the key profit maker, up almost 48.9 percent to 6.11 billion dollars in sales.

Global net sales came to $14.6 billion, up 27 percent, with an operating loss of $494 million.

And its advertising business continued to surge. But any disappointment was tempered by the profit result, which was an astounding 1,286% increase from the second quarter of 2017.

On the call, Olsavsky noted that Amazon slowed the pace of its hiring in the second quarter and markedly decreased its build-out of new fulfilment centres.

These moneymakers let Amazon "invest as hard as ever while also delivering higher profitability", says Dan Morgan, senior portfolio manager at Synovus Trust. Elsewhere we saw probably better than expected efficiencies in operations, our infrastructure costs, and generally all of our fixed costs. A company that manages their assets well will have a high return, while if manages their assets poorly will have a low performance.

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