While the company’s net sales of $US52 billion were below analyst’s projections, the big story was Amazon’s surprising profit.
Driven by the AWS cloud business and its high-margin advertising business, Amazon’s $US2.5 billion net income in Q2 was more than ten times the level in the same period last year.
As this chart from Statista shows, Amazon has broken out of its past pattern of delivering modest profits, with the bottom line soaring in 2018. Net income in Q2 was an all-time high for Amazon, and we might see a repeat with the company’s upcoming third quarter, which Amazon forecasted will also exceed expectations.
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