Amazon posts record-setting 51% increase in Q2 sales, profits drop
Seattle -- Amazon reported Tuesday that sales for the quarter ended June 30 soared 51% to $9.9 billion.
Profits dipped 8% to $191 million from $207 million on surging operating costs, but still beat Wall Street expectations.
The sales growth spanned geographies and categories, with worldwide electronics and other general merchandise sales growing the fastest at 69% to nearly $5.9 billion. Worldwide sales in the media category grew 27% to $3.66 billion. By region, sales in North America grew 51% to $5.41 billion while international segment sales grew 51% to $4.51 billion.
“Low prices, expanding selection, fast delivery and innovation are driving the fastest growth we’ve seen in over a decade,” said Jeff Bezos, founder and CEO of Amazon.com.