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E-commerce marketplace Amazon has announced that its net sales for the second quarter (Q2) ended June 30, 2022, increased by 7 per cent to $121.2 billion, compared to $113.1 billion in Q1 2021. It has also highlighted new initiatives for the benefit of both consumers and sellers using the platform as well as innovation incorporated in shopping experiences of customers such as drone deliveries of products in the US in the future.
Excluding the $3.6 billion unfavourable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased by 10 per cent compared with second quarter of 2021.
Operating cash flow decreased 40 per cent to $35.6 billion for the trailing twelve months, compared with $59.3 billion for the trailing twelve months ended June 30, 2021. Free cash flow decreased to an outflow of $23.5 billion for the trailing twelve months, compared with an inflow of $12.1 billion for the trailing twelve months ended June 30, 2021, the company said in a media release.
E-commerce marketplace Amazon, Inc. has announced the financial results for its second quarter ended June 30, 2022. Net sales increased 7 per cent to $121.2 billion in the second quarter, compared with $113.1 billion in second quarter 2021. It has also highlighted new initiatives for the benefit of both consumers and sellers using the platform.
Free cash flow less principal repayments of finance leases and financing obligations decreased to an outflow of $33.5 billion for the trailing twelve months, compared with an inflow of $0.6 billion for the trailing twelve months ended June 30, 2021. Free cash flow less equipment finance leases and principal repayments of all other finance leases and financing obligations decreased to an outflow of $26.1 billion for the trailing twelve months, compared with an inflow of $4.2 billion for the trailing twelve months ended June 30, 2021.
Common shares outstanding plus shares underlying stock-based awards totalled 10.6 billion on June 30, 2022, compared with 10.4 billion, a year ago. All share and per share information throughout this release has been retroactively adjusted to reflect the 20-for-1 stock split effected on May 27, 2022.
Operating income decreased to $3.3 billion in the second quarter, compared with $7.7 billion in second quarter 2021. Net loss was $2.0 billion in the second quarter, or $0.20 per diluted share, compared with net income of $7.8 billion, or $0.76 per diluted share, in second quarter 2021. Second quarter 2022 net loss includes a pre-tax valuation loss of $3.9 billion included in non-operating expense from our common stock investment in Rivian Automotive, Inc.
“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 fulfilment network,” said Andy Jassy, Amazon CEO.
Amazon has launched Virtual Try-On for Shoes, where shoppers can virtually try on thousands of sneaker styles, and Luxury Stores at Amazon in France, Germany, Italy, Spain, and the UK, where customers can shop established and emerging luxury fashion brands online. Amazon Style, Amazon’s first-ever physical store for apparel, opened in Glendale, California, to help customers discover new looks through a personalized shopping experience. Amazon Style uses machine learning algorithms to produce tailored recommendations for customers as they shop. In the fitting room, customers can use touchscreens to browse more options and request additional styles and sizes.
Amazon introduced new ways for customers to support and discover small businesses selling in Amazon’s store, including the Small Business Badge, which helps customers find and shop products from small business brands and artisans,
Amazon announced that later this year, Amazon customers in Lockeford, California, and College Station, Texas, will be among the first to receive Prime Air drone deliveries in the US. Customers will have the option to receive free and fast drone delivery on thousands of everyday items—the largest selection of items ever to be available for drone delivery, added the release.
Amazon continues to collaborate with leading retailers and stadiums to equip third-party locations with Just Walk Out technology for checkout-free shopping and Amazon One for palm recognition and payment service.
Fibre2Fashion News Desk (NB)
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