Unlike its SVOD rival Netflix, Amazon didn’t disappoint with its Q2 2016 earnings report, released today. The ecommerce giant’s cash flow increased 42%, year-over year, from $9 billion to $12.7 billion. It also saw net sales increase 31% to $30.4 billion in the second quarter, compared with $23.2 billion in Q2 2015. Net income was $857 million, compared with $92 million in Q2 2015.
It also impressed with earnings per share of $1.78, besting Wall Street analysts’ forecast of $1.11 per share. The stock was up 2.1% in after hours trading.
One area where Amazon falls short vis-à-vis Netflix video-wise is international availability. Netflix is currently available in 190, whereas Amazon’s Prime Video can only be accessed in five (U.S., U.K., Japan, Germany and Austria).
But Amazon is looking to change that, and in today’s earnings report, Amazon.com founder and CEO Jeff Bezos boasted of the company’s plans for India.
“It’s been a busy few months for Amazon around the world, and particularly in India — where we launched a new AWS Region, introduced Prime with unlimited free shipping, and announced that Prime Video is coming soon, offering Prime members in India exclusive access to Amazon Original Series and Movies — including original content featuring top Indian creators and talent,” said Bezos. “The team in India is inventing at a torrid pace, and we’re very grateful to our Indian customers for their welcoming response.”
Amazon did not specify a launch date for Prime Video in India.