Amazon's Q2 sales up 25% to $38bn

Screengrab via YouTube  Bloomberg

Meanwhile, the company's emerging media services business (which includes Amazon A9, plus Amazon Advertising Platform, or AAP, etc) are categorized as a "other", with revenues in this category hitting $945m during the quarter, compared to $626m 12 months earlier, according to the filing. The company's already razor-thin operating margins decreased from 4.2% a year ago to 1.7% last quarter. While some expected Amazon's spending in these areas - stepped up since past year - to ease, the company is plowing ahead to reinforce its fast-shipping club Prime. "Our video content spend will continue to grow, both sequentially and quarter over quarter". "We are giving them the benefit of doubt here because they have executed so well historically". A cornerstone of the company's strategy, Prime encourages shoppers to buy more goods, more often from Amazon.

Ahead of the results announcement, a leap in Amazon's shares to a record high of $1,083 helped CEO Jeff Bezos top Gates as the world's richest person, but the stock price fell after the results, returning Gates to the top spot again. The spectre of Amazon's disruption now hangs over a dizzying array of industries.

Grocery is the latest to feel the threat. The cloud division of Amazon reported a 42 percent increase in revenue compared to the previous year, although profits were flat. The company is trying to push into new markets, such as India.

The company also forecast an operating income of US$300 million to a loss of US$400 million for the current quarter.

Russia Orders US Embassy Staff Cuts in Sanctions Retaliation
Russia's retaliation, outlined in a statement from the Foreign Ministry, came a day after the Senate voted to slap new sanctions on Russian Federation .

The company doesn't plan to change the price of its Prime $99 subscription service anytime soon, even though the membership carries more offerings. CFO Brian Olsavsky said third quarter typically sees lower operating income because it has to prepare for the holiday peak season.

"Every category of operating expense was up", said Michael Pachter, analyst at Wedbush Securities, citing higher marketing, content and fulfillment costs. "G&A up 50 (percent) is insane", referring to general and administrative costs in the second quarter. Net sales rose 24.8%to $37.96 billion.

In Australia, Perth-based technology start-up, Tape Ark, recently launched in the Australian market through the release of a data storage solution leveraging AWS and Business intelligence (BI) software vendor, Yellowfin, has partnered with BI services provider, Toustone, to offer a web-based cloud solution on AWS.

Related News:

  • British Airways Owner IAG Posts 45% Jump in Quarterly Earnings

    British Airways Owner IAG Posts 45% Jump in Quarterly Earnings

    IAG's share price has been volatile this morning, having lost 0.67 percent to 590.00p as of 10:31 BST, after surging more than 0.7 percent earlier in the session.
    Bad future performance Ahead?: American Airlines Group Inc. (AAL)

    Bad future performance Ahead?: American Airlines Group Inc. (AAL)

    The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink . This change led market cap to move at $25.34B, putting the price -6.37% below the 52-week high and 54.58% above the 52-week low.

    Gowdy: If I Were Jeff Sessions, I Wouldn't Stick Around

    Does he have support in the justice department? This transcript has been automatically generated and may not be 100% accurate. A source close to Sessions' team told the Washington Examiner the attorney general had no immediate plans to resign.
  • Amazon plows ahead with high sales and spending; profit plunges

    Amazon plows ahead with high sales and spending; profit plunges

    However, he said, "We really think it will be a big boost for us as we expand our grocery and consumables offering". Analysts had expected operating income in the third quarter of $931 million, according to FactSet StreetAccount.
    Paulo Dybala: 'I'm happy at Juventus'

    Paulo Dybala: 'I'm happy at Juventus'

    But the Italian side couldn't claim the trophy, beaten 4-1 by Real Madrid in the Cardiff final in early June. First, you find out the first official confirmation that Neymar is moving to Paris Saint-Germain .
    Trump Praises Law Enforcement in Fighting MS-13 Gang

    Trump Praises Law Enforcement in Fighting MS-13 Gang

    Sessions' trip to El Salvador followed up on Trump's April promise in which he said he would get rid of the gang in America. Congress to allocate more money for immigration agents and judges, a senior administration official told reporters.
  • BT Takes Fresh Hit Over Italian Accounting Scandal

    BT Takes Fresh Hit Over Italian Accounting Scandal

    BT's Gavin Patterson: Settlement 'is disappointing but it is the best possible outcome for shareholders'. BT said the £225m payout represents a "full and final settlement in respect of these issues".
    Axis Bank is all set to buy FreeCharge for Rs 400 crore

    Axis Bank is all set to buy FreeCharge for Rs 400 crore

    The bank has continued to leverage its strong retail franchise, resulting in a year-on-year growth of 19% in the retail portfolio. As far as net NPAs are concerned, it stood at 4.86% during the quarter compared with 3.01% in Q1FY17 and 4.89% in Q4FY17.
    Trump dines with Sean Hannity, former Fox executive Bill Shine and Scaramucci

    Trump dines with Sean Hannity, former Fox executive Bill Shine and Scaramucci

    But let me tell you about myself. "If he's gonna be that divisive, I'm not sure he's gonna be very useful to the President". It's worth noting that there was in fact no leak behind Politico's publishing of Mr Scaramucci's financial disclosure form.
  • James Corden sings musical takedown of Trump's trans military ban

    James Corden sings musical takedown of Trump's trans military ban

    He also points out that Trump's logic of banning transgender citizens in the army to save budget is totally flawed as in reality "it only saves that budget 0.04%".
    WhatsApp for Android beta adds App Shortcuts: Here's how to use

    WhatsApp for Android beta adds App Shortcuts: Here's how to use

    Especially so because the Facebook-owned company just announced that it has over 250 million daily users on the Status feature. The multi-faceted app can be used for sharing texts, photos and videos , as well as connecting via voice and video calls.
    One final ride for Cena, Marine bomb dog diagnosed with cancer

    One final ride for Cena, Marine bomb dog diagnosed with cancer

    Hundreds of people attended to say goodbye to Cena, whose body was carried away in a USA flag after he was put to sleep. A final ride for a veteran K-9 who served in the Marines - that's what Cena's owner wanted, and what he got.


Most liked

Republican lawmakers rally around Sessions as Trump intensifies pressure
Dianne Feinstein, Calif., the ranking Democrat of the Senate Judiciary Committee, said, "What's happening is just bad ". John McCain, R-Ariz., wondered "How we can stop the president from firing the people he appointed I don't know".

Chris Messina's Danny Will Return For 'The Mindy Project' Season 6
Although the actress has confirmed her pregnancy, she is yet to reveal who the father of the child is. "The episode is a little bit about mom shaming and that's cool".

Wisconsin Economist Questions Foxconn Deal
Walker said Wednesday that Foxconn workers in Wisconsin will make an average salary of more than $53,000, plus benefits. Foxconn would also be allowed to skip another $150 million in sales tax on material purchases like building goods.

Antonio Conte questions Tottenham's Premier League title ambitions
Conte praised Tottenham's progress but stressed it was easier for them to develop talent due to their lower expectations. But Conte , who led Chelsea to the title last season, added: "If [Spurs] don't win the title, it's not a tragedy".

Warner Bros. Planning Ground-Breaking Oscar Campaign For Wonder Woman
The studio is also vying for Jenkins to land a nomination for the best director category. Justice League is due to be released in United Kingdom cinemas on November 17 2017.

Can CenterPoint Energy, Inc. (NYSE:CNP) Go The Extra Mile?
Stock market analysts watching Energy Transfer Equity, L.P. (NYSE:ETE) have recently changed their ratings on the stock. Bank of Montreal Can raised its position in shares of Energy Transfer Equity, L.P.by 35.9% in the second quarter.

UPSC declares result of civil services prelims examination
The candidates are requested to visit the Commission's website (http://www.upsc.gov.in) for updates in this regard. After which the candidates will need to enter their details which are available on the hall ticket.

Dortmund allow Merino to discuss transfer as Newcastle move nears
Newcastle manager Rafa Benitez added: "Mikel is a midfielder with talent, an U21 global for Spain ". The 21-year-old only joined the German outfit last year, arriving from Osasuna for a €3.85m fee.

Check Out The LawBreakers PC & PS4 Open Beta This Weekend
However, keep in mind that these downloads are only available until tomorrow, so get it done soon if you plan to. The pre-load is available now on Steam and the event will start at the following times.

BJP Office Allegedly Attacked by CPI(M) Activists in Thiruvananthapuram, Workers Vandalise Houses
Chief Minister Pinarayi Vijayan should explain and order a probe into "conspiracy of police officials in the attack", he said. A number of clashes broke out between CPM and BJP workers on Thursday late night in Thiruvananthapuram .

Shania Twain Shines in New 'Life's About to Get Good' Video
The album is the long-awaited follow-up to 2002's Up! " Life's About to Get Good " makes you believe every word from the singer. He "really loved this one particularly, he responded so enthusiastically to it", she tells Taste of Country Nights .

Twitter, Inc. (TWTR) Rating Reiterated by Cowen and Company
The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link . Canaccord Genuity reissued a "hold" rating and set a $15.00 target price on shares of Twitter in a research note on Monday.

Inder Kumar, Salman Khan's 'Wanted' Co-Star, Dies At 43
In his whole career, Inder Kumar had worked in 21 movies and now was working for a movie too. The cremation is scheduled to be held at Yaari Road, Shamshaan Bhoomi on Friday at 6 pm.

Juniper Networks, Inc. (NYSE:JNPR) Technical Analysis and Chart Patterns
Over the last five days, shares have faced -4.46% losses and now is up 0.78% since hitting its 200-day moving average of $28.53. Acrospire Investment Management LLC increased its stake in shares of Juniper Networks by 837.8% in the first quarter.

Indian NIA summons Syed Ali Gilani's son for questioning
The Kashmiri separatists have made fortunes for themselves and family for leading the separatism in the Valley and state. Top separatists such as Malik, Geelani and Mirwaiz Umer Farooq are alleged to be the main beneficiaries.