In the second quarter ended June 30, net sales at Amazon rose 27.2%, to $113.1 billion, and net income rose 50%, to $7.8 billion. The strong sales results were below analysts' expectations, however, and are, the Wall Street Journal wrote, "the first sign that [Amazon's] streak of dominant financial results in the pandemic may be slowing." As a result, in after-market trading Amazon stock fell 4%, to about $3,600 a share.
According to the New York Times, in a conference call, Amazon CFO Brian Olsavsky indicated that online sales growth had slowed some because more people were shopping more in person and spending time vacationing or socializing. "That's all good," he said, "but that does tend to lead them do other things besides shop."
Amazon said it expects this quarter's net sales to be "between $106 billion and $112 billion, or to grow between 10% and 16% compared with third quarter 2020."