Amazon sales exceeded 113 billion dollars
Amazon sales exceeded 113 billion dollars

Amazon shares fell more than 7% after the e-commerce giant reported its first drop in sales in three years and gave poor guidance for the third quarter.

So, with the reopening of stores and the return of in-person shopping, demand for purchases from Amazon has slowed.

Revenue is $113.08 billion, and Amazon's revenue is growing 27% annually. This is a significant slowdown from the second quarter of 2020, when sales were up 41% annually.

Amazon's chief financial officer has blamed its business throughout the year for making a stark comparison to business during the coronavirus shutdown.

He said Amazon's growth rate ranged between 35% and 45% in mid-May last year.

According to Amazon, sales in the third quarter are expected to be between $106 billion and $112 billion, up 10 to 16 percent from the same period last year.

The June quarter reflects Jeff Bezos' last quarter as CEO. On July 5, Bezos transferred the CEO position to Andy Gacy, who was previously the president of AWS.

Amazon sales exceeded 113 billion dollars

Thanks to cloud computing, subscriptions, and advertising, revenue has exceeded expectations.

Another Amazon division, including ads and other services, generated revenue growth of 87% annually to more than $7.9 billion during the period.

The company's advertising division introduced more than 40 new features this quarter. Amazon says one example is developing tools for region-sponsored product events.

In addition, he said he has expanded his services to Australia, Europe, India, Japan and Saudi Arabia.

AWS revenue grew 37% for the second quarter and revenue for the quarter was $14.81 billion. The cloud division has long been an asset to Amazon and makes up the majority of the company's operating revenue.

The results will help advance AWS's position in the business, school, and government markets. Used to run applications and websites. Use the IT infrastructure located in remote data centers.

According to market research firm Gartner estimates, AWS will account for 41% of the market share in 2020, more than double the share of its second competitor, Microsoft.

Of the company's total revenue of $113.08 billion, 13% comes from the cloud division and 54% of the company's operating income comes from AWS.

The number of employees in the company continues to grow. At the end of the third quarter, the e-commerce giant employed 1.33 million people worldwide, with an annual growth rate of 52%.

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