Amazon second quarter sales hit $63.4bn

Growth | International | Latest News | Retail | South East | Technology

Amazon.com has announced its financial results for its second quarter, which ends June 30 2019.

Operating cash flow for the last twelve months was up 65% to $36bn, compared with $21.8bn for the trailing twelve months ended June 30, 2018.

Net sales increased 20% to $63.4bn in the second quarter of 2019, compared with $52.9bn in the second quarter 2018.

Excluding the $814m unfavorable impact from fluctuating foreign exchange rates throughout the quarter, net sales increased 21% compared with second quarter 2018.

Finally, operating income increased to $3.1bn in the second quarter, compared with operating income of $3bn in second quarter 2018.

Jeff Bezos, Amazon founder and CEO said: “Customers are responding to Prime’s move to one-day delivery — we’ve received a lot of positive feedback and seen accelerating sales growth. Free one-day delivery is now available to Prime members on more than ten million items, and we’re just getting started. A big thank you to the team for continuing to make life easier for customers.”

However, it has not been all good news for the online retail giant. In recent weeks, there have been international protests and strikes at Amazon facilities, where pay and working conditions have been criticised.

This led to the end of Amazon’s incredible four back-to-back quarters of increased profits.

Shares in Amazon fell 3% in the after hours trading on Thursday following the announcement before recovering.

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