Business

Amazon sold $52.9 billion across its entire portfolio during Q2 2018

Net sales increased by 37 percent compared to Q2 2017

Amazon.com building

U.S.-based e-commerce giant Amazon posted $52.9 billion USD (roughly $69.16 billion CAD) worth of sales during its second quarter of 2018.

Of that figure, approximately $27.17 billion USD (roughly $35.52 billion CAD) was generated through Amazon’s online operations.

Approximately $4.31 billion USD (roughly $5.63 billion CAD) was generated through Amazon’s physical stores.

Third-party resellers accounted for $9.70 billion USD (roughly $12.68 billion CAD) of Amazon’s Q2 2018 earnings.

The company’s subscription services, including Amazon Prime, represented $3.41 billion USD (roughly $4.46 billion CAD) of the company’s net sales, while Amazon’s cloud computing platform Amazon Web Services (AWS) represented $6.11 billion USD (roughly $7.99 billion CAD).

Amazon’s latest sales figures are a 39 percent increase compared to Q1 2018, while sales increased by 37 percent compared to Q2 2017.

The company’s net income increased to $2.5 billion USD (roughly $3.27 billion CAD) in Q2 2018, compared to $197 million USD (roughly $257.53 million CAD) in Q2 2017.

According to a July 26th, 2018 media release, the company currently employs 575,700 people across its full-time and part-time network. That figure doesn’t include Amazon’s contractors and temporary personnel.

“We want customers to be able to use Alexa wherever they are,” said Jeff Bezos, Amazon founder and CEO, in the same July 26th media release.

“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.

Amazon projects that it will sell between $54.0 billion USD and $57.5 billion USD in Q3 2018, while its projected operating income is expected to fall within $1.4 billion USD and $2.4 billion USD.

Amazon stock closed at $1,805.90 USD (roughly $2,360.83 CAD).

However, the company’s stock price almost immediately shot up to $1,881.15 USD ($2,460.06 CAD) during aftermarket trading.

The company’s stock price sits at $1,851.05 USD (roughly $2,413.60 CAD) at the time of writing.

Source: Amazon

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