Amazon said Thursday second-quarter profit jumped 48 percent from a year ago to $7.8 billion, but shares in the tech and e-commerce giant fell on a disappointing revenue number.
Total revenues increased 27 percent to $113.1 billion, below most Wall Street forecasts, sparking a slide of some seven percent in after-hours trading.
Andy Jassy, who took over as chief executive earlier this month from Jeff Bezos, said Amazon remained focused on delivering goods and services for consumers during the pandemic.“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,” Jassy said.
The Amazon results capped a series of earnings from major tech firms highlighting surging profits and revenues as digital lifestyles and work-from-home trends continue even with the end of most pandemic lockdowns. Amazon has faced criticism over its workplace policies but has argued that it pays above-average wages and invested billions for employee safety.A growing number of consumers turned to Amazon during the pandemic for delivery of goods and services, including groceries, and its cloud computing division also grew to help businesses and consumers stay connected.
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