News

Amazon sales spike 25% in Q2

August 1, 2017

Online mega retailer Amazon had a robust second quarter and is predicting net sales may actually best its latest financials in Q3.

Second quarter sales hit $38 billion, an increase of 25 percent, and net sales should land between $39.25 billion and $41.75 billion, a growth spike of 20 percent to 28 percent compared with third quarter 2016, according to a press release.

Operating cash flow increased 37 percent to $17.9 billion for the trailing 12 months, compared with $13.0 billion for the trailing 12 months ended June 30, 2016.

Operating income decreased 51 percent to $628 million in the second quarter, compared with operating income of $1.3 billion in second quarter 2016.

Net income was $197 million in the second quarter, or $0.40 per diluted share, compared with net income of $857 million, or $1.78 per diluted share, in second quarter 2016.

"Our teams remain heads-down and focused on customers," said Jeff Bezos, Amazon founder and CEO, in the release.

Amazon's third annual Prime Day was the biggest global shopping event ever for Amazon, with more new Prime members joining Prime than any single day in Amazon history, according to the release. Hundreds of thousands of small businesses and entrepreneurs participated in the global event and sold more than 40 million units.