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Amazon revenue rises 20% y-o-y to touch $63.4 bn

The earnings per share was $5.22.

Jeff Bezos

MUMBAI: Jeff Bezos-led Amazon reported mixed second quarter results as it missed earnings estimates but beat estimates on revenues. The e-commerce giant reported earnings per share (EPS) of $5.22 in contrast to $5.55 expected EPS. At the same time, it posted revenues of $63.4 billion while market estimation was $62.52 billion.

Amazon’s revenue rose 20 per cent Y-o-Y, compared to rebound 16.8 per cent in the first quarter, which was the slowest in four years. However, Amazon’s net income of $2.6 billion was the lowest since the second quarter of last year.

The company has guided net sales to be between $66 billion and $70 billion, or to grow between 17 per cent and 24 per cent compared with third quarter 2018. This guidance anticipates an unfavourable impact of approximately 30 basis points from foreign exchange rates. Operating income has been expected to be between $2.1 billion and $3.1 billion, compared with $3.7 billion in the same quarter of last year.

Amazon’s highest growing business, Amazon Web Services reported 37 per cent growth, slipping from 41 per cent in the previous quarter. The revenue of its “other” category, including its increasingly important online ad business, climbed 37 per cent to $3 billion. However, international sales grew 12 per cent to $16.4 billion.

“Customers are responding to Prime’s move to one-day delivery — we’ve received a lot of positive feedback and seen accelerating sales growth,” said Amazon founder and CEO Jeff Bezos.

“Free one-day delivery is now available to Prime members on more than ten million items, and we’re just getting started. A big thank you to the team for continuing to make life easier for customers,” he added.

While Prime Video premiered the Jonas Brothers documentary Chasing Happiness, and Original Series Good Omens, based on the novel by Neil Gaiman, it will debut new Original Series The Boys, from creators Evan Goldberg and Seth Rogen, on 26 July and Carnival Row, starring Orlando Bloom and Cara Delevingne, on 30 August.

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