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Amazon increases profits 48% to $ 7.8 billion in second quarter

2021-07-29T21:09:03.743Z

Amazon owes its good results to online commerce and the cloud, which does not weaken even with the lifting of health restrictions.



Amazon posted $ 7.8 billion in net income in the second quarter, 48% more than a year ago, a result driven by e-commerce and the cloud that does not weaken even with the lifting of health restrictions .

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The technology giant, however, lost 5% on the stock market after the close of Wall Street on Thursday, because of a turnover of 113 billion, up 27%, but less than 2 billion analysts' forecasts. During the past quarter, Amazon notably took advantage of its “Prime Day”, an annual promotional operation that lasts two days on its e-commerce site and targets Prime subscribers, who pay for free 24-hour deliveries and other advantages.

"In twenty countries, Prime subscribers spent more and saved more on Prime Day than any other before, buying 250 million products,"

said the Seattle group in its earnings release.

These balances have also largely benefited third-party resellers, specifies the firm, regularly accused of crushing the competition on a platform where it also markets its own devices and consumer goods.

These political pressures and recurring criticism from associations about the working conditions in the company's warehouses did not undermine its commercial success.

MGM and cloud

Amazon also offered the almost century-old Hollywood studio Metro-Goldwyn-Mayer at the end of May for 8.45 billion dollars.

This catalog will allow it to considerably expand Prime Video, its streaming service included in the subscription.

Read also: Will Amazon partially escape the global corporate tax?

The appetite for the cloud, or remote computing, is also not diminishing, even with the gradual lifting of health restrictions. AWS, Amazon's cloud division, made $ 14.8 billion in revenue, up 37% from a year ago at the same time.

Source: lefigaro

All business articles on 2021-07-29

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