Amazon’s U.S. net sales rise to $121.2 billion in Q2 2022

E-commerce marketplace Amazon reported that its net sales for the second quarter (Q2) ended June 30, 2022 increased 7% to $121.2 billion from $113.1 billion in Q1 2021 She also highlighted new initiatives for consumers and sellers using the platform as well as innovation embedded in customer shopping experiences, such as drone product deliveries in the United States at the future.

Excluding the $3.6 billion unfavorable impact of year-over-year foreign exchange rate changes throughout the quarter, net sales increased 10% from the second quarter of 2021.

Cash flow from operations decreased 40% to $35.6 billion for the last twelve months, compared to $59.3 billion for the last twelve months ended June 30, 2021. Free cash decreased to an outflow of $23.5 billion for the last twelve months, compared to an inflow of $12.1 billion for the last twelve months ended June 30, 2021, the company said in a press release. hurry.

E-commerce marketplace Amazon, Inc. reported financial results for its second quarter ended June 30, 2022. Net sales rose 7% to $121.2 billion in the second quarter from 113.1 billion in the second quarter of 2021. It also highlighted new initiatives to benefit 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 last twelve months, compared to an inflow of $0.6 billion for the last 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 last twelve months, compared to an inflow of $4.2 billion for the last twelve months ended June 30, 2021.

Common shares outstanding plus shares underlying stock-based awards totaled 10.6 billion as of June 30, 2022, compared to 10.4 billion a year ago. All share and per share information contained in this release has been retroactively adjusted to reflect the 20-to-1 stock split effected on May 27, 2022.

Operating profit declined to $3.3 billion in the second quarter from $7.7 billion in the second quarter of 2021. Net loss was $2.0 billion in the second quarter, or 0 $.20 per diluted share, compared to net income of $7.8 billion, or $0.76 per diluted share, in the second quarter of 2021. Net loss for the second quarter of 2022 includes a pretax valuation loss of $3 $.9 billion included in non-operating expenses of our common stock investment in Rivian Automotive, Inc.

“Despite continued inflationary pressures on fuel, energy and transportation costs, we are making progress on the more controllable costs we referenced last quarter, particularly improving the productivity of our fulfillment network” , said Andy Jassy, ​​CEO of Amazon.

Amazon launched Virtual Try-On for Shoes, where shoppers can virtually try on thousands of sneaker styles, and luxury stores on Amazon in France, Germany, Italy, Spain and the UK, where customers can buy established and emerging luxury fashion brands online. . Amazon Style, Amazon’s first-ever brick-and-mortar clothing store, opened in Glendale, California to help customers discover new looks through a personalized shopping experience. Amazon Style uses machine learning algorithms to produce personalized recommendations for customers when shopping. In the fitting room, customers can use touch screens to browse more options and request additional styles and sizes.

Amazon has 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 buy products from brands and artisan brands. small enterprises,

Amazon announced that later this year, Amazon customers in Lockeford, Calif., and College Station, Texas will be among the first to receive Prime Air drone deliveries in the United States. Customers will have the option to receive free, fast drone delivery on thousands of everyday items – the largest selection of items ever available for drone delivery, the statement added.

Amazon continues to work with major retailers and stadiums to equip third-party venues with Just Walk Out technology for cashless shopping and Amazon One for palm recognition and payment service.

Fibre2Fashion News Office (NB)

Ann J. Cox