In the second quarter, the ecommerce giant launched Prime member savings in all Whole Foods stores nationwide, while simultaneously expanding Whole Foods delivery networks in more cities, including San Antonio, Houston, and Chicago.
Earlier this month, Amazon held its annual Prime Day shopping event, its biggest shopping event yet, during which shoppers purchased more than 100 million products. Analysts estimate that Amazon made at least $3.6 billion in sales during the 36-hour-long event. Sales from the Prime Day event will not be disclosed until the company’s third-quarter report.
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Amazon has also invested heavily in expanding its cloud business (Amazon Web Services) and advertising business (Amazon Marketing Services), which are two of the fastest growing and most profitable units of the company. Advertising is expected to reach $9 billion in annualized revenue this quarter, according to KeyBanc estimates.
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