{"id":46396,"date":"2023-08-04T17:11:07","date_gmt":"2023-08-04T17:11:07","guid":{"rendered":"https:\/\/www.africa-press.net\/zambia\/?p=46396"},"modified":"2023-08-04T11:43:09","modified_gmt":"2023-08-04T11:43:09","slug":"amazon-sees-strong-profit-in-q2-recovering-from-loss","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zambia\/all-news\/amazon-sees-strong-profit-in-q2-recovering-from-loss","title":{"rendered":"Amazon sees strong profit in Q2, recovering from loss"},"content":{"rendered":"

Africa-Press – Zambia. <\/strong><\/span>Amazon posted strong profits in the second quarter, recovering from a loss in the same period last year, according to its financial results statement released Thursday.<\/p>\n

The US-based global e-commerce giant generated a net income of more than $6.7 billion in the April-June period of this year after posting a net loss of over $2 billion in the same period last year.<\/p>\n

Net sales rose 11% to $134.4 billion for the three months ending June 30 compared with $121.2 billion in the same period of 2022. Operating income more than doubled to $7.7 billion from $3.3 billion during the period.<\/p>\n

CEO Andy Jassy said the company continued lowering its cost to serve in its fulfillment network, adding there is strong demand for the company’s advertising services.<\/p>\n

Amazon’s advertising services brought in $10.7 billion in the second quarter, up 23% from $8.7 billion year-on-year.<\/p>\n

The company said in March that it planned to cut around 9,000 more positions after announcing in November that it was planning to trim 10,000 jobs in its retail, human resources and devices units including people who work on the AI voice assistant Alexa and at its Luna cloud gaming division.<\/p>\n

Amid strong financial results, Amazon’s stock price jumped 7.6% to $138.75 per share on the Nasdaq as of 4.20 p.m. EDT in after-hours trading after closing Thursday at $128.91 a share.<\/p>\n

For More News And Analysis About Zambia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zambia. Amazon posted strong profits in the second quarter, recovering from a loss in the same period last year, according to its financial results statement released Thursday. The US-based global e-commerce giant generated a net income of more than $6.7 billion in the April-June period of this year after posting a net loss […]<\/p>\n","protected":false},"author":84,"featured_media":46395,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,9],"tags":[5031,234,235,192,5027,5029,5030,233],"class_list":["post-46396","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-miscellaneous","tag-advertising","tag-africa-press","tag-africa-press-zambia","tag-amazon","tag-earnings","tag-income","tag-net-sales","tag-zambia"],"yoast_head":"\nAmazon sees strong profit in Q2, recovering from loss - Zambia<\/title>\n<meta name=\"description\" content=\"Amazon posted strong profits in the second quarter, recovering from a loss in the same period last year, according to it ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zambia\/all-news\/amazon-sees-strong-profit-in-q2-recovering-from-loss\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Amazon sees strong profit in Q2, recovering from loss\" \/>\n<meta property=\"og:description\" content=\"Amazon posted strong profits in the second quarter, recovering from a loss in the same period last year, according to it ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zambia\/all-news\/amazon-sees-strong-profit-in-q2-recovering-from-loss\" \/>\n<meta property=\"og:site_name\" content=\"Zambia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-04T17:11:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zambia\/sites\/35\/2023\/08\/sm_1691132840.056391.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"563\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/amazon-sees-strong-profit-in-q2-recovering-from-loss#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/amazon-sees-strong-profit-in-q2-recovering-from-loss\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Amazon sees strong profit in Q2, recovering from loss\",\"datePublished\":\"2023-08-04T17:11:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/amazon-sees-strong-profit-in-q2-recovering-from-loss\"},\"wordCount\":232,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/amazon-sees-strong-profit-in-q2-recovering-from-loss#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zambia\/sites\/35\/2023\/08\/sm_1691132840.056391.jpg\",\"keywords\":[\"Advertising\",\"Africa Press\",\"Africa Press-Zambia\",\"Amazon\",\"earnings\",\"income\",\"net sales\",\"Zambia\"],\"articleSection\":[\"all news\",\"miscellaneous\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/zambia\/all-news\/amazon-sees-strong-profit-in-q2-recovering-from-loss#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/amazon-sees-strong-profit-in-q2-recovering-from-loss\",\"url\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/amazon-sees-strong-profit-in-q2-recovering-from-loss\",\"name\":\"Amazon sees strong profit in Q2, recovering from loss - 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