What's Going On With Amazon On Thursday?

Amazon.com Inc AMZN on Thursday announced record-breaking sales for its 2024 Prime Day event.

What Happened: Amazon said it sold more items during this year’s two-day Prime Day event than it did in any prior years, resulting in record Prime Day sales for the e-commerce giant.

Amazon noted that a record-breaking number of customers signed up for Prime in the three weeks leading up to Prime Day. As a result, millions more Prime members shopped the two-day shopping event compared to Prime Day 2023.

“Prime Day 2024 was a huge success thanks to the millions of Prime members globally who turned to Amazon for fantastic deals, and our much-appreciated employees, delivery partners, and sellers around the world who helped bring the event to life for customers,” said Doug Herrington, CEO of Worldwide Amazon Stores.

“We love helping Prime members save money, and Prime Day is the ultimate celebration of the savings, selection, and convenience that Prime membership provides customers looking for shopping, entertainment, food delivery, and more.”

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Independent sellers on the Amazon platform sold more than 200 million items during Prime Day. Members also took advantage of savings on Amazon devices, subscriptions for Amazon Music Unlimited, Kindle Unlimited, Audible and more.

Amazon noted that its new AI-powered shopping assistant Rufus helped customers quickly sort through Amazon’s wide selection of products. The company also said millions of customers used the Amazon Inspire shopping experience to discover products by exploring images and videos from other customers, influencers and brands.

Amazon is due to report financial results for the second quarter in about two weeks. The company is expected to report earnings of $1.02 per share and revenue of $148.495 billion, according to estimates from Benzinga Pro.

AMZN Price Action: Amazon shares were down 1.4% at $185 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Amazon.