Amazon Posts US$7.8 Billion Profit in Q2 2021

Economics & Macro

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Dwi Hadya Jayani 30/07/2021 15:40 WIB

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Amazon reported a profit of US$7.8 billion in the second quarter of 2021. Citing Wall Street, Amazon's earnings amounted to US$15.12 per share, exceeding analysts' projections of US$12.28 per share.

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Amazon Posts US$7.8 Billion Profit in Q2 2021

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Amazon Net Income (Q1 2020 - Q2 2021)

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Amazon reported a profit of US$7.8 billion in the second quarter of 2021. Citing Wall Street, Amazon's earnings amounted to US$15.12 per share, exceeding analysts' projections of US$12.28 per share.

Amazon's profit surged 48.3% from the second quarter of 2020, which recorded US$5.2 billion. However, profit performance decreased by 4% compared to the first quarter of 2021, which amounted to US$8.1 billion.

Revenue was recorded at US$113.1 billion, up 27.2% from the second quarter of 2020, which amounted to US$88.9 billion. This achievement fell short of analysts' projections of US$115 billion.

The analysts' missed projection of Amazon's revenue caused the stock to fall by 7%. Amazon's Chief Financial Officer, Brian Olsavsky, stated that revenue did not meet predictions because some consumers were already daring to shop in person due to the availability of the Covid-19 vaccine. In addition, people also chose to vacation or socialize.

Despite this, investors expect higher sales in the following quarter.

Editor : Annissa Mutia

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."