Despite 20 Percent Increase in Q2 Net Sales, Amazon Stock Drops
Last week, eCommerce giant Amazon (NASDAQ: AMZN) announced its second quarter financials for the period ended June 30, 2019. One of the top highlights for the quarter was net sales of $63.4 billion, a 20% increase year-over-year, compared to $52.9 billion for the same period last year. Net product sales made up $35.9 billion, or 56.6% of total net sales, and net service sales comprised the balance at $27.5 billion, or 43.4% of total net sales.
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