Amazon’s net profits increase twelve-fold in Q2

Amazon has released its financial results for the second quarter ended June 30, 2018.

Net sales increased 39.3% to $52.9bn in the second quarter, compared with $38.0bn in second quarter 2017. This was largely attributed to advertising revenues, AWS performance and foreign exchange rate impacts. Net product sales increased 28.8% year-over-year. Third party seller services totalled $9.7bn, up 38.7%.

Operating income increased to $3.0bn in the second quarter, compared with operating income of $0.6bn in second quarter 2017. The company’s fulfilment costs grew by 53.7% year-over-year. Worldwide shipping costs totalled $6.0bn, up 29.2% year-over-year.

Net income increased to $2.5bn in the second quarter, or $5.07 per diluted share, compared with net income of $0.2bn, or $0.40 per diluted share, in second quarter 2017.

Shares in Amazon increased by as much as 3% immediately after the announcement, with investors buoyed by the increase in profits.

Source: Amazon