The tech giant said its July 11-12 Prime Day sale was its biggest ever sale, saving customers $2.5 billion ( 2 billion pounds) for deals. Photo: Gene J. Puskar/AP.
Amazon reported a surge in sales as Prime subscribers flocked to its website for great deals.
The tech giant said its July 11-12 Prime Day sale was its biggest ever story by saving customers $2.5bn (£2bn) in transactions.
The online trading giant reported total sales of $134.4bn, up 11%, and said Wall Street expects its short-term earnings and profits to be staggering. waiting.
Retailing in brick-and-mortar stores has outperformed market expectations, as have online sales. The tech giant reported an 11% increase in sales in North America, driven by a broader selection of brands, including Victoria's Secret lingerie.
Amazon posted net income of $6.7 billion in three months ending in July. compared to a loss last year after the write-off of investments.
Its highly profitable Amazon Web Services division, its internet infrastructure division, reported $22 billion in sales.
The Seattle-headquartered company has moved to cut headcount to cut costs after a breakneck growth during the pandemic . The company has now announced 27,000 job cuts in 2023.
The $1.3 trillion retailer, now in its second year under CEO Andy Jassi, who replaced Jeff Bezos in 2021, also released rosy forecasts for the year ahead, sending its stock up 7% and raising hope that the US economy can avoid a recession in 2023.
Elsewhere, iPhone maker Apple reported $81 in revenue, 8 billion for the quarter, down 1% from the previous year but in line with Wall Street's expectations. Apple shares were virtually unchanged after trading on the market.
Having a combined value of $4 trillion, Apple and Amazon are closely monitored to check the health of the US economy.
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