Amazon says sales are picking up following a big Prime Day

Illustration by Alex Castro / The Verge

The company is expecting growth to pick up soon, despite the fact that growth has slowed down in recent quarters. In its second quarter earnings release on Thursday, Amazon said that its net sales grew just 7 percent year over year but that they will go up by 13 to 17 percent in the third quarter.

For more than a year, sales growth at Amazon has been declining.

We don't know the exact results from this year's Prime Day, which took place earlier in July, but Amazon claims that it was the biggest Prime Day event ever, with more than 300 million items purchased.

The company's stock price has gone up in after-hours trading despite the fact that growth has slowed. Amazon made $121.2 billion in sales in the second quarter. The net loss was caused by its investment in the electric vehicle company Rivian.

It's possible that Andy Jassy, who took over as CEO from Jeff Bezos just over a year ago, is starting to right the ship. In addition to dealing with the rapidly slowing growth, there have been unionization efforts at Amazon warehouses, and he has had to find a replacement for retail CEO Dave Clark, who has been with the company for 23 years. The Wall Street Journal reported last month that Jassy spent a lot of his first year getting to know the company and its operations.