Amazon posted sales numbers that grew by $15 billion year over year when it reported second-quarter earnings Thursday. Its peers in retail and cloud services don’t come anywhere near that level of growth.
Amazon reported sales of $52.9 billion for the second quarter, up 39 percent from the year-ago period when it saw $38 billion. The bulk of that comes from North American sales, consisting of retail sales and subscription fees for the company’s Prime memberships. Cloud revenue increasingly drives revenue growth, growing by 49 percent in the second quarter.
The numbers trounce Amazon’s industry competitors in retail:
- Retail rival Walmart grew sales by $5 billion year over year in the April quarter, the most recent quarter for which data is available. That’s a growth rate of 4.4 percent year-over-year.
- Brick-and-mortar retailer Target increased sales by just $764 million for the April quarter. The company’s total sales for the period rang in at 16.8 billion — just above Amazon’s net new sales.