Amazon Q2 revenue falls just short of analyst predictions

Amazon revenue reaches $113bn but falls just short of expectations
Image: © Mike Mareen/Stock.adobe.com
AWS continues to grow in importance as a revenue stream as its former head Andy Jassy takes over as Amazon CEO.
Amazon posted quarterly results that fell short of market expectations on revenue but surpassed on profits.
In the second quarter of the year, the e-commerce giant had revenues of $113.1bn, a 27pc increase year on year, while Wall Street had been expecting $115.1bn. Its profits came to $7.8bn or $15.12 per share, a 47pc increase, while analysts had predicted $12.22 per share.
Net sales from Amazon Web Services (AWS) totalled $14.8bn, up 37pc from last year, as revenue streams outside the company’s core e-commerce business continue to become more important. Revenue from subscription services reached $7.9bn, a 32pc increase, and ‘other’ revenue, including the company’s ad business, also hit $7.9bn, up 87pc from last year.

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