• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Thursday, May 22, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home News

Bezos Tops the Wealthiest Man List, Amazon Quarterly Profit Falls by 77%

by Chinmay Bidkar
July 28, 2017
in News
Reading Time: 2 mins read
0
amazon quarterly profit
TwitterWhatsappLinkedin

amazon quarterly profit

You might also like

FBI Shuts Down Key Internal Watchdog Monitoring Surveillance Practices

Microsoft Faces Backlash Over Reported Email Censorship Involving ‘Palestine’ and ‘Gaza’

M&S Attributes Cyber Attack to Human Error, Declines Ransom Comment

“Our No. 1 mission is to be Earth’s most customer-centric company, And we mean that across any industry and across any time,” Jeff Bezos in 1999.

 

28 July 2017, India:

Jeff Bezos-led Amazon has failed to achieve its quarterly target as the losses hit to overall $724 million in Q2 which ended on 30th June, showing a profit of just $197 million on strong sales of $38 billion.

Last year, same time, the Seattle-based company had registered a mere $135 Million losses which have increased to over five times now. But one-quarter won’t obviously decide the fate of top company. Amazon has made investments all over the World which will be capitalized in coming months, so this is like a step backwards to take a long jump!

Talking about the Indian market, Chief Financial Officer Brian Olsavsky said, “We continue to invest in India. We’re very hopeful with the progress we’ve made with sellers and customers alike in India and we see great momentum and success there, so we continue to invest and we have some of our best people in that business.”

The company is also pushing investments in Echo devices and Alexa platform in India. “The year-over-year difference is primarily driven by investments, what we were within the guidance range and we continue to invest in, as I said, fulfillment capacity and logistics services, digital video, our Echo and Alexa, Echo devices and Alexa platform India, the buildup at the AWS infrastructure, as well as Prime Now and Amazon Fresh and Prime benefits,” Olsavsky said.

Related read- Amazon Working Hard On Floating Motor Mount For Unmanned Aerial Vehicle

Meanwhile, Amazon Web Services continues to drive the cloud computing industry. The cloud division of Amazon reported a 42 percent increase in revenue compared to the previous year, although profits were flat.

aws profit
Image- Geekwire

Revenue for the second quarter was $4.1 billion, up from $2.9 billion in the year ago quarter. Operating income was $916 million, compared to $718 million in the second quarter last year. While Amazon overall surprised investors with a drop in profits, this is pretty much what observers expected from AWS during the quarter, Geekwire reported.

Overall, Amazon.com Inc. said quarterly profit fell 77% even as sales jumped, a sign of the high cost of its increasing dominance of retail.

The founder of the company, Jeff Bezos was on the top of World’s wealthiest man list for a brief period of time as he surpassed Bill Gates, altough shortlived reign, Bezos is bound to be the number one sooner than later. Back in 1999, Bezos explained his thinking to NPR’s Wendy Kaufman, “Our No. 1 mission is to be Earth’s most customer-centric company,” he said. “And we mean that across any industry and across any time.” (Image- Marketwatch)

Related read- Satya Nadella – Cricket Lover, Avid Reader & CEO of Microsoft

Tags: amazonAmazon IndiaAmazon lossesAmazon profitamazon quarterly profitAmazon Web serviceAWSecommerceInternetJeff Bezos
Tweet54SendShare15
Previous Post

Native Advertising and Content Marketing: Do They Have Any Difference?

Next Post

Outgoing General Electric CEO Jeffrey Immelt Added on the List for Uber’s Potential CEO

Chinmay Bidkar

Curious, Keen Observant & Dynamic! Chinmay finds peace in meeting people who work hard for humanity. He has new found interest in Gadgets and Techs and at Techstory he gets to write about it! Reach out at- [email protected]

Recommended For You

FBI Shuts Down Key Internal Watchdog Monitoring Surveillance Practices

by Harikrishnan A
May 22, 2025
0
FBI Shuts Down Key Internal Watchdog Monitoring Surveillance Practices

The FBI has come under fire after quietly shutting down a key internal watchdog office tasked with monitoring the agency’s use of one of its most controversial surveillance...

Read more

Microsoft Faces Backlash Over Reported Email Censorship Involving ‘Palestine’ and ‘Gaza’

by Harikrishnan A
May 22, 2025
0
Microsoft’s Copilot+ Faces Scrutiny Over New Recall Feature

Microsoft is facing mounting criticism from employees and activists after multiple reports revealed that emails referencing “Palestine,” “Gaza,” or “Genocide” are being blocked or delayed within the company’s...

Read more

M&S Attributes Cyber Attack to Human Error, Declines Ransom Comment

by Sneha Singh
May 22, 2025
0
M&S Attributes Cyber Attack to Human Error, Declines Ransom Comment

Britain's retail giant Marks & Spencer revealed this week that the devastating cyber attack which crippled its operations over Easter weekend will cost the company approximately £300 million...

Read more
Next Post
Jeffrey Immelt uber

Outgoing General Electric CEO Jeffrey Immelt Added on the List for Uber's Potential CEO

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?