from Statista.com
— this post authored by Felix Richter
Amazon announced its second quarter earnings last week, beating analyst expectations by posting its largest profit ever.
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The Seattle-based e-commerce behemoth reported total sales of $52.9 billion for the three months ending June 30, up from $35.71 billion in Q2 2017. Net profit grew more than tenfold from $197 million in Q2 2017 to $2.5 billion this year.
The recent surge in profit is a pleasant surprise to Amazon’s shareholders and a change in what has long been standard operating procedure for the Seattle-based company. For many years, Amazon has reinvested nearly every dollar it made with a relentless focus on long-term growth. Considering that the company’s profit just soared to an all-time high, it seems like even Jeff Bezos is running out of ideas to reinvest all of the money flowing in.
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