Amazon sells over 100 million products in global clearance sale.
The company's shares were trading near flat on Wednesday, after having risen to a record high of $1.858,88 earlier.
(Reuters)- Amazon.com said on Wednesday that it sold more than 100 million products worldwide during its global Prime Day sale, despite problems with the company's app and websites that prevented customers from making purchases.
The company's shares were trading near stability on Wednesday, after having risen to a record high of $1.858,88 earlier. The surge in shares pushed the company's market capitalization to $900 billion for the first time—a mark previously achieved only by Apple.
The world's largest online retailer reported its highest daily sales of Echo speakers, made possible by offering significant discounts. Fire TV Stick and Echo Dot devices were also top sellers.
This year's promotion started on July 16th and lasted 36 hours.
The technical problems lasted at least two hours and were likely exacerbated by excessive consumer traffic, said analyst Mark Mahaney of RBC Capital Markets.
The retailer likely made between $1,5 billion and $2 billion in revenue from the promotion, and the gross value of goods sold by the company and third parties exceeded $3,5 billion, Mahaney said.
Amazon stated that it has sold over 1 million home automation devices in the United States.
The company did not disclose total sales figures for the sale, which was open only to members of the paid Prime program in 17 countries, compared to 13 countries last year.
By Supantha Mukherjee in Bangalore, India