Amazon significantly increased its revenue in the second quarter despite high inflation and recession worries. Revenues increased by seven percent year-on-year to $121.2 billion. Although operating profit fell from $7.7 billion to $3.3 billion, it exceeded experts’ expectations. On the bottom line, Amazon posted a net loss of $2.0 billion, but that was due to a $3.9 billion write-down of a stake in electric carmaker Rivian Automotive. For the third quarter, Amazon expects to do even better. Net sales are expected to be between $125.0 billion and $130.0 billion, or to increase between 13 and 17 percent compared to Q3 2021, anticipating an unfavorable impact of approx. 390 basis points from foreign exchange rates. Operating income is expected to be between $0 and $3.5 billion, compared to $4.9 billion in Q3 2021.

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