Ecommerce giant Amazon revealed at the close of trading today that net sales for the second quarter increased 27% year over year to about $113 billion from nearly $89 billion, while net income grew to $7.8 billion from $5.2 billion.
Top line
Though the technology conglomerate continued its growth trajectory during its most recent fiscal quarter, the earnings results missed expectations and disappointed investors—Amazon’s share price was down more than 7% in after-hours trading.
Between the lines
“Over the past 18 months, our consumer business has been called on to deliver an unprecedented number of items, including PPE, food and other products that helped communities around the world cope with the difficult circumstances of the pandemic,” said Andy Jassy, Amazon’s CEO, in a statement.
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