Amazon has surprised the market with stronger than expected results. The electronic commerce giant earned 9,922 million dollars until June, about 9,100 million euros, according to the accounts made public this Thursday at the last minute. This contrasts with the losses of 5,400 million euros a year ago due to the collapse of its investee Rivian, an electrical manufacturer.
The figures improved analysts’ forecasts and triggered its price by almost 9% after the market closed. Its turnover grows 10%, to 261,741 million dollars -some 198,000 million euros-. “It’s been another quarter of solid progress for Amazon,” said the firm’s chief executive officer, Andy Jassy. The reduction of costs -with large layoffs by the medium-, the growth of the business in the cloud and the “strong demand” in advertising are keys to improvement.
The cloud is increasingly entering. The turnover of Amazon Web Services (AWS) reached 43,494 million dollars -39,749 million euros-, which represents an increase of almost 14%.
The company has also offered rosy forecasts and expects revenue to grow between 9% and 13% in the third quarter.
Apple has also presented results. The company with the highest valuation on the planet, 3 trillion dollars, achieved a profit of 74,039 million dollars – some 67,700 million euros – between October and July, 6% less. Sales in these nine months have reached 293,787 million dollars, some 268,700 million euros, 3% less.
The weakness in product sales -iPhone and Mac fell 4%- has been offset by strong sales in services (8%), such as Apple TV, and the drive in China. Chief executive Tim Cook noted that quarterly revenue from the services has been a record and attributed it to paying subscribers, which now number one million.
The company beat analyst estimates but met with a lukewarm reception. Investors penalized the apple company, which lost 2% on the stock market after the market closed.
