Amazon posts Q2 results with net sales, net income growth

Amazon.com, Inc. on Thursday announced its second-quarter financial results ending June 30, with an 11-percent net sales increase to 134.4 billion U.S. dollars compared with 121.2 billion dollars in the same period last year.

According to its financial report, Amazon's net income increased to 6.7 billion dollars in the second quarter, or 0.65 dollars per diluted share, compared with a net loss of 2.0 billion dollars, or 0.20 dollars per diluted share, in the second quarter of 2022.

Amazon's operating cash flow increased 74 percent to 61.8 billion dollars for the trailing 12 months, compared with 35.6 billion dollars for the trailing 12 months ending June 30, 2022. Free cash flow improved to an inflow of 7.9 billion dollars for the trailing 12 months, compared with an outflow of 23.5 billion dollars for the trailing 12 months ending June 30, 2022.

"It was another strong quarter of progress for Amazon," said Andy Jassy, Amazon chief executive officer, adding that the company continued lowering its cost to serve in the fulfillment network, while also providing Prime customers with the fastest delivery speeds Amazon ever recorded.

According to Jassy, Amazon Web Services has continued to add to its leadership position in the cloud with a slew of generative releases of artificial intelligence.