Amazon posts Q2 results with 2 bln USD net loss
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E-mail Xinhua, July 29, 2022
SAN FRANCISCO, July 28 (Xinhua) -- Amazon.com, Inc. announced Thursday financial results for its second quarter ending June 30, 2022, with a net loss of 2 billion U.S. dollars, or 20 cents per diluted share, compared with a net income of 7.8 billion dollars, or 76 cents per diluted share in the second quarter of 2021.
The company's net sales increased 7 percent to 121.2 billion dollars in the second quarter of this year, compared with 113.1 billion dollars in the second quarter of 2021. Excluding the 3.6 billion dollars unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 10 percent compared with the second quarter of 2021, Amazon said.
Its operating cash flow decreased 40 percent to 35.6 billion dollars for the trailing 12 months, compared with 59.3 billion dollars for the trailing 12 months ending June 30, 2021.
Free cash flow decreased to an outflow of 23.5 billion dollars for the trailing 12 months, compared with an inflow of 12.1 billion dollars for the trailing 12 months ending June 30, 2021.
Common shares outstanding plus shares underlying stock-based awards totaled 10.6 billion on June 30, 2022, compared with 10.4 billion one year ago.
Amazon Web Services (AWS) net sales increased to 19.74 billion dollars in the second quarter from 14.81 billion dollars one year ago.
"Despite continued inflationary pressures in fuel, energy, and transportation costs, we're making progress on the more controllable costs we referenced last quarter, particularly improving the productivity of our fulfillment network," said Andy Jassy, Amazon CEO.
"We're also seeing revenue accelerate as we continue to make Prime even better for members, both investing in faster shipping speeds, and adding unique benefits," he added.
Amazon's net sales are expected to be between 125 billion and 130 billion dollars or to grow between 13 and 17 percent in the third quarter, compared with the third quarter of 2021. Operating income is expected to be between 0 and 3.5 billion dollars in the third quarter, compared with 4.9 billion dollars in the third quarter of 2021. Enditem
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