Amazon.com (AMZN) Delivers The Goods in Q2

Amazon.com (Nasdaq: AMZN) investors are happy after the Internet giant delivered pristine second-quarter results after the close Tuesday.

The company's second-quarter sales rocketed 51 percent to $9.91 billion. Net income deceased 8 percent to $191 million, or $0.41 per share, $0.06 better than the analyst estimate of $0.35, but down from last year's $0.45.

"Low prices, expanding selection, fast delivery and innovation are driving the fastest growth we’ve seen in over a decade," said Jeff Bezos, founder and CEO of Amazon.com.

Highlights from the quarter include accelerating sales growth of Kindle devices versus the first quarter. Also international sales grew 51 percent to $4.51 billion.

Amazon.com sees third-quarter sales up between 36-47 percent to $10.3-$11.1 billion, versus the consensus of $10.4 billion. Operating income is expected to be between $20 million and $170 million, or between a 93 and 37 percent decline compared with third quarter 2010.

Shares of Amazon.com rose 5.4 percent to $225.74 in after-hours trading action.

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