Amazon earns $9.922 million through June, in contrast to last year’s losses

by archynewsycom
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The electronic commerce giant Amazon earned between January and June of this year 9,922 million dollars (9,063 million euros to today’s exchange rate), continuing with the positive trend of the exercise, compared to the losses of 5,872 million that it experienced in this period last year.

In a statement published this Thursday, the US technology company indicated that its total turnover in the last six months was 261,741 million dollars, 10% more year-on-year, favored by the good performance of its businesses in the most recent quarter.

“It’s been another quarter of solid progress for Amazon,” said the firm’s chief executive officer, Andy Jassy, who pointed out as the determining factors the reduction of costs of its distribution network, the growth of its division in the cloud, Amazon Web Services (AWS), and the “strong demand” for its advertising services.

Amazon’s losses last year, thus adding value to the current figures, were mainly due to the collapse in the stock market of the electric vehicle manufacturing company Rivianin which he has a significant investment.

Between March and June, the company’s profit was 6,750 million dollars -compared to a loss of 2,028 million in that section of 2022- and turnover increased by 11%up to 134,383 million, with the bulk of that income coming from the North American market.

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