Amazon’s second quarter report is out, with both revenue and profit exceeding expectations!

Amazon said the recovery in its e - commerce business was largely due to the efforts of its boss, Andy Jassy , ​​who has been working to optimize its delivery network .

Data shows that Amazon's overall online sales in the second quarter increased by 11% year-on-year to US$134.4 billion , which is better than expected .

On the other hand, this year 's Amazon Prime Day sale was also its largest ever, with a total of 375 million items sold .

In terms of net profit, the company earned $6.7 billion in the second quarter , higher than analysts' expectations and significantly better than the $2 billion loss in the same period last year .

But while Amazon is best known for its online shopping business, its financial results are driven more by divisions such as its cloud computing business and advertising business .

Amazon said that as small and medium-sized enterprises have eased their concerns about the economy, sales of its cloud computing business have stabilized, increasing 12% year-on-year in the second quarter . On the other hand, advertising revenue also increased by 22% year - on-year .

After the release of this latest data , combined with a series of other data released by the outside world , it can be seen that some of the dark clouds hanging over the global economy may be beginning to dissipate.

Amazon executives said today's consumers are still watching their budgets closely and in many countries, inflation is keeping people from spending as much as they should .

But there are signs that inflation is easing: Amazon said its online sales grew 4% in the April-June period compared with the same period last year, after no growth at the start of the year.

Andrew Lipsman, principal analyst at Insider Intelligence, said the improvement in Amazon's e-commerce business was an "encouraging sign" for the second half of the year.

Jassy, ​​who took over as CEO two years ago, has been focused on cutting costs and improving efficiency, resulting in massive layoffs and a comprehensive overhaul of the company's delivery network, but the results seem to be effective.

Amazon

Second quarter

Financial Report