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{"id":11172,"date":"2022-07-29T14:46:34","date_gmt":"2022-07-29T14:46:34","guid":{"rendered":"https:\/\/scienceandnerds.com\/2022\/07\/29\/amazon-says-sales-are-picking-up-following-a-big-prime-day\/"},"modified":"2022-07-29T14:46:35","modified_gmt":"2022-07-29T14:46:35","slug":"amazon-says-sales-are-picking-up-following-a-big-prime-day","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2022\/07\/29\/amazon-says-sales-are-picking-up-following-a-big-prime-day\/","title":{"rendered":"Amazon says sales are picking up following a big Prime Day"},"content":{"rendered":"

Source: https:\/\/www.theverge.com\/2022\/7\/28\/23278058\/amazon-q2-2022-earnings-sales-picking-up-prime-day<\/a>
\n
<\/br><\/code><\/p>\n

\n

Amazon\u2019s growth has slowed down in recent quarters after surging during the pandemic, but the company is expecting things to pick up soon. In its second quarter earnings release<\/a> on Thursday, Amazon said that its net sales grew just 7 percent year over year but that they\u2019ll go up by an estimated 13 to 17 percent in the third quarter \u2014 which will account for sales from the company\u2019s massive Prime Day shopping extravaganza. <\/p>\n

Sales growth has been on a steady decline for more than a year at Amazon:<\/p>\n

While we don\u2019t yet know the specific results from this year\u2019s Prime Day, which took place earlier in July, Amazon has claimed that it was the \u201cbiggest Prime Day event ever,\u201d<\/a> that Prime members bought \u201cmore than 300 million items worldwide,\u201d and that more than 100,000 items were purchased per minute<\/em>, including more devices than any previous Prime Day event. <\/p>\n

Although growth has slowed, it didn\u2019t slow as much as feared, and the company\u2019s stock price has jumped in after-hours trading. And Amazon is still bringing in a lot<\/em> of money, earning $121.2 billion in sales in the second quarter. However, those sales weren\u2019t enough to stave off a net loss of $2 billion, which was due in large part to a $3.9 billion loss from its investment in the electric vehicle company Rivian<\/a>. <\/p>\n

The better than expected results could indicate that Andy Jassy, who took over as CEO from founder Jeff Bezos just over a year ago<\/a>, is starting to right the ship. Jassy has had a turbulent first year in the post; in addition to dealing with the rapidly slowing growth, there have been unionization efforts at Amazon warehouses (including the first successful unionization vote<\/a>), and he\u2019s had to find a replacement for retail CEO Dave Clark, a 23-year Amazon veteran who resigned in June<\/a>. The<\/em> Wall Street Journal<\/em> reported<\/a> last month that Jassy spent much of his first year getting a handle on the company\u2019s retail and logistics operation that had overexpanded during the pandemic. <\/p>\n<\/div>\n


<\/br><\/code><\/p>\n

Source: https:\/\/www.theverge.com\/2022\/7\/28\/23278058\/amazon-q2-2022-earnings-sales-picking-up-prime-day<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Source: Amazon\u2019s growth has slowed down in recent quarters after surging during the pandemic, but the company is expecting things to pick up soon. In its second quarter earnings release on Thursday, Amazon said that its net sales grew just 7 percent year over year but that they\u2019ll go up by an estimated 13 to […]<\/p>\n","protected":false},"author":1,"featured_media":11173,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[17,8],"tags":[18],"class_list":["post-11172","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech","category-technology","tag-tech"],"yoast_head":"\nAmazon says sales are picking up following a big Prime Day - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2022\/07\/29\/amazon-says-sales-are-picking-up-following-a-big-prime-day\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Amazon says sales are picking up following a big Prime Day - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source: Amazon\u2019s growth has slowed down in recent quarters after surging during the pandemic, but the company is expecting things to pick up soon. 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