Monday, July 31, 2017
Amazon Web Services Drives Growth
Amazon reported a 25% year-on-year increase in sales to 38 billion US dollars in the second quarter, compared with growth of 31% in the second quarter of 2016. Excluding the impact of foreign exchange movements throughout the quarter, net sales increased 26%, Amazon added. Sales by Amazon Web Services, the cloud business, grew 42% year-on-year.
Amazon expects net sales to be between 39.25 billion and 41.75 billion dollars in the third quarter, which would equate to growth of between 20% and 28% compared with third quarter 2016. This guidance anticipates an unfavourable impact of approximately 125 million dollars or 40 basis points from foreign exchange rates. Source: Amazon statement
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