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Amazon sales soar but profits miss expectations

Ecommerce juggernaut Amazon has reported a 20% rise in worldwide sales to $63.4bn (£50.9bn) for its second quarter, ending 30 June 2019. While profits also rose, they failed to hit analyst expectations.

Operating income increased to $3.1bn (£2.5bn), up from $3bn (£2.4bn) in the same period last year. The lower than anticipated rise comes as the business invests heavily in rolling out its one-day delivery offer. Shipping costs rose 36% to more than $8bn (£6.4bn) globally.

The retailer did not split out its UK sales figures.

Amazon recently announced that it is set to hire for 2,000 new roles in the UK during 2019, taking its employee number to 29,500.

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