Amazon has released its Q2 financial results for the period ending June 30, 2018, revealing an increase in net sales to $52.9 billion for the second quarter, up from $38 billion in the same period last year.
In a statement released on Friday morning, Amazon revealed strong financial results for Q2, reporting an increase in operating cash flow of 22 percent to $21.8 billion compared with only $17.8 billion in Q2 2017, as well as an increase in free cash flow to $10.4 billion from $9.6 billion.
The company also said that operating income increased from $628 million in 2017 to $3 billion in 2018’s second quarter, while net income finished the quarter at a healthy $2.5 billion.
Amazon’s founder and CEO, Jeff Bezos, believes sales of Alexa-enabled devices can be attributed to a large portion of the company’s success over the past few months.
“There are now tens of thousands of developers across more than 150 countries building new devices using the Alexa Voice Service, and the number of Alexa-enabled devices has more than tripled in the past year.
“We want customers to be able to use Alexa wherever they are,” he said.
This comes after the online marketplace invested a substantial amount of money into its Alexa products, launching it in new marketplaces like France, alongside its Echo Dot. The business also introduced new Alexa Skills that were created by third-party developers and increased the number of products Alexa is available on.
Moving forward, Amazon expects to replicate these strong results in Q3 predicting net sales to fall between $54 and $57.5 billion, equating to a growth of 23 to 31 percent when compared to Q3 in 2017. The e-commerce juggernaut is also expecting a boost in operating income, predicting figures of between $1.4 billion and $2.4 billion, compared to only $347 million last year.
Amazon has also just wrapped up its fourth annual Prime Day sale event, which is bound to give the company a boost in sales in the next quarter, after raking in more than $4 billion in revenue despite technical glitches.
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