Amazon reports strong second-quarter results

2020-07-31 16:46

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SAN FRANCISCO, July 30 (Xinhua) -- Inc. on Thursday announced its second-quarter financial results ending June 30, with a 40-percent net sales increase to 88.9 billion U.S. dollars compared with 63.4 billion dollars in the same period last year.

Excluding the 582-million-dollar unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 41 percent. Third-party sales again grew faster this quarter than first-party sales, the U.S. e-commerce giant said.

According to its financial report, Amazon's net income increased to 5.2 billion dollars in the second quarter, or 10.30 dollars per diluted share, compared with a net income of 2.6 billion dollars, or 5.22 dollars per diluted share, in the second quarter 2019.

Amazon's operating cash flow increased 42 percent to 51.2 billion dollars for the trailing 12 months, compared with 36.0 billion dollars for the trailing 12 months ending June 30, 2019. Its free cash flow increased to 31.9 billion dollars in the same period, compared with a previous 25.0 billion dollars.

Common shares outstanding plus shares underlying stock-based awards totaled 517 million on June 30, 2020, compared with 510 million one year ago, the company said.

"This was another highly unusual quarter, and I couldn't be more proud of and grateful to our employees around the globe," said Jeff Bezos, Amazon founder and CEO.

According to Bezos, the company spent over 4 billion dollars on incremental COVID-19-related costs in the last quarter to help keep employees safe and deliver products to customers during a period of high demand.

"We've created over 175,000 new jobs since March and are in the process of bringing 125,000 of these employees into regular, full-time positions," he said.
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