Amazon.com Inc. (NASDAQ: AMZN) reported sales for the second quarter ended June 30, 2022, were up 7% to $121.2 billion. Excluding the impact from changes in foreign exchange rates, sales increased 10%.
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Amazon reported a net loss of $2 billion in the second quarter, compared with a profit of $7.8 billion in the second quarter of 2021.
Amazon did not release a report on Amazon Business’s performance in the second quarter.
“Despite continued inflationary pressures in fuel, energy and transportation costs, we’re making progress on the more controllable costs we referenced last quarter, particularly improving the productivity of our fulfillment network,” said Andy Jassy, Amazon CEO. “We’re also seeing revenue accelerate as we continue to make Prime even better for members, both investing in faster shipping speeds, and adding unique benefits.”
Other items of note from the Amazon announcement on the second quarter:
- Amazon announced that later this year, Amazon customers in Lockeford, Calif., and College Station, Texas, will be among the first to receive Prime Air drone deliveries in the U.S. Customers will have the option to receive free and fast drone delivery on thousands of items—the largest selection of items ever to be available for drone delivery.
- Sweden-based SKF, manufacturer of bearings, collaborated with AWS to launch a fully automated, condition-monitoring solution for industrial machine reliability and predictive maintenance. This helps manufacturers monitor equipment, detect anomalies, and avoid unexpected machine failures in their facilities.
Ian Heller is the Founder and Chief Strategist for Distribution Strategy Group. He has more than 30 years of experience executing marketing and e-business strategy in the wholesale distribution industry, starting as a truck unloader at a Grainger branch while in college. He’s since held executive roles at GE Capital, Corporate Express, Newark Electronics and HD Supply. Ian has written and spoken extensively on the impact of digital disruption on distributors, and would love to start that conversation with you, your team or group. Reach out today at iheller@distributionstrategy.com.