Amazon.com's Net Income Declines by 10% in Second Quarter
Post Date: 28 Jul 2009 Viewed: 565
Amazon.com has announced its financial results for this year’s second quarter, according to which net sales increased by 14% to $4.65 billion in the second quarter, compared with $4.06 billion during the parallel quarter in 2008.
The company reported that operating cash flow was $1.88 billion for the trailing twelve months, compared with $1.09 billion for the trailing twelve months ending on June 30, 2008. Free cash flow rose by 89% to $1.54 billion for the trailing twelve months, as compared to $0.82 billion for the trailing twelve months ending on June 30, 2008.
Operating income decreased by 27% to $159 million in the second quarter, as compared to $217 million in last year’s second quarter.
Net income declined by 10% to $142 million in the second quarter, compared to a net income of $158 million in the second quarter 2008.
Jeff Bezos, founder and CEO of Amazon.com, stated: “We’re pleased that customers saved more than $900 million with our free shipping offers, including Amazon Prime, over the last year. We’re staying heads down focused on providing customers low prices, vast selection, and fast delivery.”