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Despite fierce competition from Temu and Shein, Amazon reported a solid margin in Q2, driven by the acceleration of AWS and the digital marketplace. Whereas staff lay-off plans have been put on hold, the e-commerce slowdown combined with uncertainty over the U.S.A. election in November are worrying the markets.
On August 1, 2024, Amazon published financial results for Q2 2024. While sales were in line with analysts’ expectations, profits exceeded forecasts. Amazon’s quarterly revenue grew by 10% at constant exchange rates, reaching US$148 billion. This was below the 2023 pace of 12% growth.
Considering the half-year results, the Group posted sales of US$291.3 billion, i.e. an additional US$30 billion compared with the same period last year.
Online sales, Amazon’s historic business, accounted for the lar
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