Amazon's Q2 sales up 25% to $38bn

28 Juillet, 2017, 15:56 | Author: Marc Bacque
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Amazon has turned AWS into a business that's on track to generate well over $10 billion in revenue annually.

The cloud computing division climbed 42% to $4.1 billion revenue for the quarter, recording higher sales but slower growth than previous quarters, with the second quarter of past year seeing it post a 58% sales jump.

Net income was $197 million in the second quarter, or $0.40 per diluted share, falling from $1.78 per diluted share in the second quarter of 2016.

Shares - up almost 40% this year - fell 3.2% to $1,012.68 in after-hours trading. "Q3 is generally a high investment period", CFO Brian Olsavsky said on a call with reporters, according to Reuters, pointing to preparations for the Christmas rush.

Amazon.com has announced that its net sales for the second quarter (Q2) of 2017 amount to $38.0bn, up 25% on last year's Q2.

These include the expansion of its Echo line of voice-activated devices and its Fire tablet portfolio, as well as the roll-out of its Amazon Fresh and Amazon Prime services to new geographies. While Amazon overall surprised investors with a drop in profits, this is pretty much what observers expected from AWS during the quarter.

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Even excluding the proposed Whole Foods deal, Amazon forecast an operating income of between $300 million and a loss of $400 million for the current quarter.

"The fact that they are investing on so many fronts right now just speaks to the opportunity that they have before them", said Edward Jones analyst Josh Olson.

Analysts had expected operating income of US$931 million, according to FactSet.

From its origins as an online bookseller, Amazon has jumped into areas that historically had barriers to e-commerce, from apparel to appliances.

"Every category of operating expense was up", said Michael Pachter, analyst at Wedbush Securities, citing higher marketing, content and fulfilment costs.

Amazon's second biggest competitor to AWS, Microsoft has not yet released the revenue numbers for its own cloud computing platform Azure but according to the company its revenue also grew by 97 per cent during the last quarter. Figures were also boosted by a 50 percent rise in the sale of subscription services - including the Prime membership that the group started to compete with streaming giant Netflix. The subsidiary will expand in France, Sweden and China in the near future, Olsavsky said.

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