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Amazon Reports Q2 Earnings

Amazon last Thursday, August 1, released information about the financial results of its operations in the second quarter of the current year.

Amazon Reports Q2 Earnings

The mentioned results turned out to be worse than the preliminary expectations for the dynamic of the corresponding indicators. Against the background of disappointing data, shares of the e-commerce giant, which has already become one of the largest players in the technology sector and has been the owner of the best American delivery service for a long time, fell by 6% during extended trading.

Amazon’s revenue for April-June of the current year was fixed at $147.98 billion. This indicator increased by 10% compared to the result recorded in the second quarter of 2023. It is worth noting that the LSEG consensus forecast provided that the revenue of the e-commerce giant for April-June of the current year would amount to $ 148.56 billion.

Earnings per share were fixed at $1.26. The LSEG consensus forecast provided that this figure would be $1.03.

Amazon Web Services revenue for April-June of the current year was fixed at $26.3 billion. It is worth noting that in this case, the result exceeded the preliminary expectations. The LSEG consensus forecast provided that the corresponding figure would be $26 billion.

The advertising activities of the e-commerce giant for April-June of the current year generated revenue of $12.8 billion. The LSEG consensus forecast envisaged that this figure would be fixed at $13 billion.

Amazon expects its revenue for the third quarter of the current year to range from $154 billion to $158.5 billion. The mentioned figures are 8-11% higher than the result for July-September 2023. LSEG’s forecast envisages that Amazon’s revenue in the third quarter of 2024 will amount to $158.24 billion.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.