Key Takeaways From Amazon’s Earnings
Amazon (NASDAQ:AMZN) reported strong second quarter earnings on Thursday, July 28th. The company’s net revenues increased 31% year over year (y-o-y) to $30.4 billion, easily beating Reuters’ consensus estimate by $850 million. The company posted earnings of $1.78 per share compared to $0.67 in the prior year period. The table below provides an overview of the results.
Solid Top Line Growth Across Divisions, Geographies
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Amazon’s sales in North America rose 28% to $17.6 billion, while International sales were up 30% to $9.9 billion. Top line growth across the North America and International segments was driven by robust growth in the Electronics, Merchandise & Others category. Amazon Web Services (AWS), the company’s public cloud division, generated $2.88 billion in revenue in the quarter, which was up 52% over the prior year quarter. AWS reported operating income of $718 million, which amounted to 56% of the total operating income for the company.
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