US technology giant Amazon closed the second quarter of the year with revenues of 134.4 billion dollars, a year-on-year increase of 10.9%. Profits beat analysts' expectations by a wide margin.

According to the newspaper Negócios, Jeff Bezos's Amazon made a profit of 6,750 million dollars in the second quarter of this year, compared to a loss of two billion dollars in the same period in 2022, due to the devaluation of shares in electric vehicle manufacturer Rivian, in which Amazon has a stake of around 18%.

The results far exceed the 3,635 million dollars expected by analysts polled by Refinitiv.

Revenues between April and June amounted to 134.4 billion dollars, 10.9% more than a year earlier. The company says that without the adverse exchange rate impact, turnover would have grown by 11.1%. Here too, the company beat the market estimate of 131.5 billion dollars.

Amazon Web Services' (AWS) turnover reached 22.1 billion dollars, above the 21.8 billion predicted by analysts, and advertising revenues were also better than expected: 10.7 billion dollars against 10.4 billion.

The company also indicated that for the third quarter it expects to invoice 138 billion to 143 billion dollars, corresponding to year-on-year growth of 9% to 13%. This guidance implies a favorable impact of around 120 basis points on exchange rates.

Amazon also said it expects an operating profit of between 5.5 billion dollars and 8.5 billion dollars this quarter, compared to the 2.5 billion recorded in the third quarter of 2022.

After the sharp devaluation of Rivian's shares last year, which led Amazon to record losses in the first two quarters of 2022, something it hadn't done since 2015, the electric vehicle manufacturer has been recovering on the stock exchange. In the second quarter of this year, the impact of the revaluation of the stake in Rivian had a positive impact of 200 million dollars. A year ago, the fall in Rivian's share price penalized Amazon's accounts by 3.9 billion dollars.