Amazon: 2Q Earnings Snapshot
SEATTLE (AP) _ Amazon.com Inc. (AMZN) on Thursday reported second-quarter earnings of $2.63 billion.
The Seattle-based company said it had profit of $5.22 per share.
The results did not meet Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $5.29 per share.
The online retailer posted revenue of $63.4 billion in the period, beating Street forecasts. Fourteen analysts surveyed by Zacks expected $62.57 billion.
For the current quarter ending in October, Amazon said it expects revenue in the range of $66 billion to $70 billion. Analysts surveyed by Zacks had expected revenue of $67.22 billion.
Amazon shares have risen 32% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 20%. In the final minutes of trading on Thursday, shares hit $1,986.06, a climb of roughly 7% in the last 12 months.