Amazon delivers a mixed bag of 2Q results, shares slide
ABC News
Amazon turned in a mixed bag of results for its fiscal second quarter, delivering a shortfall in revenue but beating on profits
NEW YORK -- Amazon on Thursday turned in a mixed bag of results for its fiscal second quarter, coming up short of Wall Street expectations in revenue but beating on profits. During the three-month period ended June 30, the Seattle-based company reported profit of $7.78 billion, or $15.12 per share compared to $5.24 billion, or $10.30 a share, during the year-ago period. Revenue jumped 27% to $113.08 billion. Analysts surveyed by FactSet on average expected $115.42 billion in quarterly revenue and per-share earnings of $12.28. Amazon also offered a revenue outlook for its current quarter that fell short of analysts’ expectations. It said it expects its third-quarter revenue will be in the range of $106 billion to $112 billion. Analysts were looking for $119.31 billionMore Related News