Don’t miss the latest developments in business and finance.

Amazon second-quarter revenue jumps 39 percent

Image
Reuters
Last Updated : Jul 27 2018 | 1:45 AM IST

(Reuters) - Amazon.com Inc reported a 39 percent jump in second-quarter revenue on Thursday, driven by a surge in online shopping and higher demand for its cloud services.

The company said its net sales rose to $52.89 billion from $37.96 billion a year earlier.

Net income rose to $2.53 billion, or $5.07 per share, in the second quarter ended June 30 from $197 million, or 40 cents per share, a year earlier.

Revenue from Amazon Web Services (AWS), the company's fast-growing cloud services business, surged about 49 percent to $6.11 billion, beating the average estimate of $6 billion, according Thomson Reuters I/B/E/S.

(Reporting by Arjun Panchadar in Bengaluru)

Disclaimer: No Business Standard Journalist was involved in creation of this content

More From This Section

First Published: Jul 27 2018 | 1:38 AM IST

Next Story