Amazon Sellers may have a love-hate relationship with the tech giant, but shareholders are loving them right now.
Strong third-party revenue helped Amazon salvage what was forecast to be a dismal second quarter. Results for the period, Thursday afternoon releasedisplayed third-party revenue increases 9% year over year to $27.4 billion. This is 6% higher than Wall Street expectations and helps to cover another drop in Amazon’s online store division, which largely mirrors Amazon’s retail business. Revenue there fell for the third straight quarter and came in at about $50.9 billion, 2% below analysts’ forecasts.