The second quarter of 2016 has proven to be a wild ride for most in the tech sector, but Amazon has managed to stay the course and put out a fairly good report. Not a single number isn’t up year over year, making this the fifth straight quarter that Amazon has seen a positive net profit figure. The shopping and tech giant has even managed to increase their operating cash flow, a figure that most big companies tend to struggle with whenever the market is in a swing or they’re in the middle of an innovative project. Indeed, all over the map, Amazon seems to be on the upswing, but their stock prices have been falling, albeit very slightly and very slowly, in the few hours since the reports went live.
As for the raw numbers, the biggest upswing seemed to be in Amazon’s revenue from Amazon Web Services, their Cloud Infrastructure as a Service platform. Despite others clawing their way into the space and fighting tooth and nail for a bite off of Amazon’s plate, Jeff Bezos saw his fortunes in the space grow 58% year on year, netting the company $2.8 billion for this quarter, versus $1.82 billion in Q2 of 2015. That powerful upswing was far from the only one for the company, of course, with a total revenue figure of $30.4 billion for the quarter putting that number up 31% year on year. Their earnings per share went from $1.11 in Q2 of 2015 to $1.78 now, and their total operating cash flow went up 42%, rising from $9 billion to $12.7 billion year on year for the second quarter. Total net profit for the quarter was $857 million.
Jeff Bezos credits the great quarter to Amazon rolling out a number of services in India, including Prime with all of the requisite perks and unlimited free shipping, along with Amazon Web Services. Prime Video is reportedly hitting India soon, and will feature territory-exclusive content featuring the best local finds, from top Indie films to Bollywood A-list features. After-hours trading falling about 2.5% for Amazon since the earnings call isn’t much sweat off the company’s back; they’re reeling from a recent uptick of about 50%, making Amazon the fifth most valuable company out there and giving CEO Jeff Bezos the third largest net worth in the world at $65.05 billion.