Amazon.com Inc. announced on Thursday that its total net sales rose 7% year over year to hit $121.2 billion in the second quarter of fiscal 2022, topping market estimates.
In the three months that ended June 30, 2022, diluted loss per share stood at $0.20, a significant fall from diluted earnings per share of $0.76 recorded in the same period a year prior. Meanwhile, net loss reached $2 billion in the second trimester, compared to the net income of $7.8 billion recorded in the second quarter of 2021.
"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," CEO Andy Jassy shared. The company expects its net sales in the third quarter of the fiscal year to be between $125 billion and $130 billion.
Amazon's shares surged 10.70% in after-hours trade following the report.
