Amazon second quarter sales up 25% to $38 billion

Operating income of the company decreased 51 per cent to $628 million in the second quarter, compared with operating income of $1.3 billion in second quarter 2016. Net income was $197 million in the second quarter, or $0.40 per diluted share, compared with net income of $857 million, or $1.78 per diluted share, in second quarter 2016.

Operating cash flow of Amazon increased 37 per cent to $17.9 billion for the trailing twelve months, compared with $13 billion for the trailing twelve months ended June 30, 2016. Free cash flow increased to $9.7 billion for the trailing twelve months, compared with $7.7 billion for the trailing twelve months ended June 30, 2016, said the company in a press release.

Free cash flow less lease principal repayments increased to $5.5 billion for the trailing twelve months, compared with $4.2 billion for the trailing twelve months ended June 30, 2016. Free cash flow less finance lease principal repayments and assets acquired under capital leases decreased to $1.5 billion for the trailing twelve months, compared with $2.9 billion for the trailing twelve months ended June 30, 2016.

Common shares outstanding plus shares underlying stock-based awards of Amazon.com totalled 502 million on June 30, 2017, compared with 495 million one year ago.

“Our teams remain heads-down and focused on customers. In the last few months, we launched Echo Show (our newest Echo device with a video screen), introduced Amazon Channels in both the UK and Germany, launched four new Fire tablets, expanded Amazon Fresh to Germany, launched Prime Now in Singapore, hired more than 30,000 new employees, launched more than 400 significant AWS features and services, migrated more than 7,000 databases using AWS Database Migration Service, and held our third annual Prime Day — signing up more Prime members than ever before. It’s energising to invent on behalf of customers, and we continue to see many high-quality opportunities to invest,” said Jeff Bezos, Amazon founder and CEO. (KD)

Fibre2Fashion News Desk – India