Friday, 29 July 2016 11:08

Amazon's sales and profits soar to new heights Featured


Amazon has smashed market expectations by posting a profit for the fifth straight quarter  US$857 million on revenue of US$30.4 billion — for the second quarter of the 2016 fiscal year.

The global online retailer and ecommerce giant announced its results in the US this morning (Australian time), beating market expectations to record its most profitable quarter.

Amazon also reported a significant increase in sales and profit over the same period last year, with net sales up 31% and the US$857 million in net income, up from last year’s US$92 million.

The outlook also looks good for Amazon, with the company announcing that it expected revenue for the third quarter to be between US$31 billion and US$33.5 billion.

Amazon Web Services continued to be Amazon’s fastest-growing and most profitable business, with revenue growing by another 58% year-over-year to US$2.88 billion, while posting US$718 million in operating income.

In a nutsehell, here’s Amazon’s key numbers for the quarter:

•    Q2 earnings per share (GAAP): US$1.78 per share vs. US$1.11 per share estimated;

•    Q2 revenue: US$30.4 billion vs. US$29.56 billion estimated (up 31% year-over-year);

•    AWS revenue: US$2.88 billion vs. US$1.82 billion last year, up 58% year-over-year; and

•    Operating cash flow: U$12.7 billion, up 42% from US$9.0 billion last year

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Peter Dinham

Peter Dinham - retired in 2020. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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