Amazon reported Q2 earnings on August 1, with growth rates slowing sequentially across the business including North America net sales (+9%), online and physical store revenue (+6% and +4% respectively), and advertising sales (+20%). Slower retail sales during a quarter lacking a major promotional event combined with slightly lower operating margins sent the stock down ~9%. Despite the slowdown, total net sales ($148 B) did finish at the high end of the company’s guidance and AWS supported by AI investments remains the brightest star, with growth accelerating to +19%.
Download Harvest Group’s full Amazon Q2 2024 earnings recap with takeaways from our team of Amazon experts here:
