What you need to know
- Amazon has published its earnings report for Q2 2019.
- The company saw sales of $63.4 billion — 20% more compared to Q2 2018.
- Net income also saw a boost to $2.6 billion.
It's no secret that Amazon pulls in heaps of cash day after day, and with its Q2 2019 earnings report now public, we can see just how much money the online shopping giant made during the last three months.
One of the highlights from the report is Amazon's sales numbers. This past quarter saw sales of $63.4 billion, which is a solid increase 20% compared to the company's sales of $52.9 billion from Q2 2018. Keep in mind that number includes a hit of $814 million due to an "unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter."
There was an increase in operating income as well, reaching $3.1 billion. While not as drastic of a jump compared to Q2 2018's $3.0 billion, more money is still more money.
Amazon also reports a cash flow increase, up to $36.0 billion which is a 65% jump compared to what the company had on June 30, 2018.
Per Jeff Bezos' statement on the earnings report:
Amazon recently just wrapped up its 48-hour-long Prime Day sale, which the company confirmed was its biggest Prime Day yet — so much so that Prime Day 2019 saw more sales compared to Black Friday and Cyber Monday 2018 combined. During Prime Day alone, Amazon sold over 175 million items.
Prime Day 2019 was bigger than Black Friday and Cyber Monday combined for Amazon
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and will pay ZERO TAXES
Actually they paid over 1.1 billion in state, local, and international taxes. But you're right, they don't pay quite a bit in certain situations, but it's because they spend multi billions of dollars in R&D and also billions into property, equipment and surrounding areas. There's actually a really good read from a Forbes article that talks about it all. I was really curious as to why or what they weren't paying as well. Not sure if I'm supposed to post links, but it's a solid read. https://www.forbes.com/sites/stephaniedenning/2019/02/22/why-amazon-pays...
Based on their quarterly net income, their stock price should be about $10.00.
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