Amazon continues to break records. But investors still want more.
The e-commerce giant released second-quarter results Thursday after the bell, improving on top and bottom lines for the three-month period ending June 30.
Sales grew 20 percent to $63.4 billion, compared with only $52.9 billion. Meanwhile, net income rose to $2.6 billion, up from $2.5 billion the same time last year.
Still, the numbers were weaker than expected, causing shares to drop — albeit only slightly.
Company shares, which closed down 1.35 percent Thursday to $1,973.82, fell a little over 2 percent during after-hours trading.
But investors aside, shoppers can’t get enough of Amazon’s speedy services, especially after the company made one-day shipping the new norm earlier this year.
“Customers are responding to Prime’s move to one-day delivery — we’ve received a lot of positive feedback and seen accelerating sales growth,” Jeff Bezos, Amazon founder and chief executive officer, said in a statement. “Free one-day delivery is now available to Prime members on more than 10 million items and we’re just getting started.”
And last quarter’s sales might be nothing compared with the current quarter. Earlier this month, Amazon held its annual Prime Day event. Sales from the 48-hour shopping extravaganza — the longest in the company’s history — surpassed last year’s Black Friday and Cyber Monday combined. Prime members purchased more than 175 million items during the event.
Meanwhile, Amazon is making an extended push on the fashion front. While most people might associate Amazon as a platform born out of shopping convenience for essentials, the company has actually been experimenting in the arena for years.
Lady Gaga unveiled her beauty brand Haus Laboratories during this year’s Prime event. Shoppers can also find brands like Levi’s, Tommy Hilfiger and Nike on Amazon. That means Amazon Prime members get all the benefits of Amazon — like fast home delivery — when they choose to buy on the site.
Now Amazon is bringing in influencers to help spruce up its image. The introduction of The Drop allows shoppers to buy certain looks they see on Amazon, but only for a limited time.