The company is now planning to reinvest, doubling the number of facilities for same-day delivery and rebooting its grocery operation. Amazon's projected revenue for the current period ending in September is between $138 billion and $143 billion. The company is also seeing an increase in revenue from providing services and advertising to independent merchants. Despite concerns about Amazon Web Services, the unit's revenue exceeded expectations, growing 12% to $22.1 billion.
Key takeaways:
- Amazon's Q2 revenue increased 11% to $134.4 billion, exceeding estimates, with the company's cloud business showing signs of stabilization.
- Under CEO Andy Jassy, Amazon has cut spending and reduced headcount, with operating expenses increasing at the slowest rate since 2012.
- Amazon plans to double the number of facilities capable of same-day delivery and is rebooting its grocery operation to offer fresh food delivery to non-Prime members.
- The company is generating an increasing share of revenue from providing services and advertising to independent merchants, with advertising sales rising 22% to $10.7 billion in the quarter.