6% in extended trading. Amazon planned net sales for the current quarter to be between $154 billion and $158,5 billion. The specialists have called for $158,42 billion per Visible Alpha. The Amazon Stock Market will reflect the latest Prime Day sales event, which Amazon called their major ever.
Amazon Revenue in the Q2 net sales totaled $147,98 billion, up 10% year-over-year and below anticipations of $148,67 billion. Earnings per share were $1.26, compared to 65 cents in the previous quarter, and the specialists agreed on $1.04. Amazon's revenue from Web Services rose 19% year-over-year to $26,3 billion.
Amazon Stock Market obtained 12% to $12,77 billion in advertising. Prime Video advertising will continue to be a significant element for Amazon. This year, the shows and movies began having a few limited advertisements. Also, the NBA accepted a reported $1.8 billion bid from Amazon to stream a package of games.
Amazon continues with inactive growth in its core retail business because of the discounts from sites like Temu and Shein. These sites sell cheap items to consumers from the United States. Amazon's revenue in its online store segment increased by just 5% yearly. Amazon Stock Market declared a 12% growth this quarter, which included commissions, satisfaction, and shipping fees.
`We did come in a little short on revenue growth in North America versus our internal estimates,` the finance chief of Amazon, Brian Olsavsky declared. The Amazon finance chief said the Amazon revenue miss happened due to consumers buying cheaper products. So, this lowered the average selling price (ASP).
`What we’re seeing is really around ASP and lower ASP in products selected by customers,` Olsavsky said. `They are continuing to be cautious in their spending and trading down to lower ASP products.` Amazon Shares expect Q3 sales of $11,5 billion to $15 billion, compared with $11,2 billion last year.
The Amazon finance chief declared that world events distract consumers, which he said made it ` a tough quarter to forecast. ` Two of the events he accentuated are the Olympics and the assassination of Donald Trump at a rally in July.
` No matter what you’re selling or providing to a customer base, customers only have so much attention, and the things like the Olympics, although they don’t happen that often, we do see different traffic patterns around those events,` Olsavsky declared.
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