Amazon prospers amid pandemic as sales rise by 40% in Q2

Amazon has announced its continued investment in the metro Detroit area with five new buildings to support operations closer to customers.

Amazon has announced its Q2 2020 results for the period ending June 30, 2020.

Total net sales increased by 40.2% to $88.9bn in the second quarter, compared with $63.4bn in the second quarter of 2019. Operating income increased to $5.8bn in the second quarter, compared with operating income of $3.1bn in the same quarter of last year. Net income rose to $5.2bn in the second quarter compared with net income of $2.6bn in Q2 2019.

Amazon’s North America segment saw net sales increase by 43.4%, compared to the same quarter last year, to $55.4bn. Operating expenses increased by 43.7% and operating income also increased to $2.1bn, a rise of 36.9% year-on-year.

The International segment also saw net sales rise considerably, for Q2 2020 they amounted to $22.7bn, up 38.5% compared with Q2 2019. Operating expenses totalled £22.3bn up from $17.0bn the previous year. Whilst operating income rose from a loss of -$601m in Q2 2019 to $345m.

Net sales for AWS increased by 29.0% to $10.8bn. Operating expenses rose to $7.5bn, an increase of 19.0% as did operating income, from $2.1bn in Q2 2019 to $3.4bn in Q2 2020.

Jeff Bezos, Amazon founder and CEO, said, “As expected, we spent over $4bn on incremental COVID-19-related costs in the quarter to help keep employees safe and deliver products to customers in this time of high demand.”

Source: Amazon


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