News

Amazon enjoys robust sales in Q2

July 2, 2018

Net sales spiked 39 percent, hitting $52.9 billion, in the second quarter for Amazon — a hefty jump compared to $38 billion a year ago.

The omnichannel leader's net income hit $2.5 billion in the quarter, compared to $197 in the second quarter of 2017, according to a press release.

Looking forward Amazon expects net sales to hit between $54 billion and $57.5 billion, a growth rate ranging between 23 percent and 31 percent, compared to last year's third quarter.

An industry analyst, as quoted by the New York Post, said the earnings increase was due to a "mix of operating efficiencies" and Amazon Web Services.