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


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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