San Francisco: Riding on surging online sales during the pandemic as people stayed home, Amazon reported a 40 per cent increase in net sales to $88.9 billion, compared with $63.4 billion in the same period last year.
Net income increased to $5.2 billion in the second quarter, compared with net income of $2.6 billion in the second quarter of 2019, the company said in a statement. Amazon shares rose 5 per cent in the after-hours trade.
The cloud computing arm Amazon Web Services (AWS) reported revenues of $10.81 billion for the quarter, up 29 per cent year over year.
"This was another highly unusual quarter, and I couldn't be more proud of and grateful to our employees around the globe," said Jeff Bezos, Amazon founder and CEO.
Jeff Bezos also faced five-hour long grilling along with Apple's Tim Cook, Facebook's Mark Zuckerberg and Alphabet's Sundar Pichai at the US Congress.
Apple posted $59.7 billion in revenue for its fiscal 2020 third quarter that ended June 27, an increase of 11 per cent from the year-ago quarter, as iPhone sales beat the Wall Street estimates.
Apple's board of directors also approved a four-for-one stock split, effective from August 31.
"In uncertain times, this performance is a testament to the important role our products play in our customers' lives and to Apple's relentless innovation," he said in a statement.
iPhone sales were $26.4 billion, iPad revenue was $6.6 billion while Mac revenue reached $7.1 billion.
Facing a massive ad boycott over its inaction to remove hate speech, Facebook shares surged over 7 per cent after the social network reported net income of $5.18 billion as revenue jumped 11 per cent to $18.69 billion from $16.89 billion a year ago.
