Amazon (AMZN) Skyrockets on Surprise Q2 Profit
Amazon.com (NASDAQ: AMZN) is surging $83, or 17%, after-hours Thursday after the online retailing giant posted a healthy profit in the second quarter versus an expected.
EPS for the quarter was $0.19 per diluted share, versus a loss of $0.27 per diluted share last year and the consensus of a loss of $0.14. Net sales increased 20% to $23.18 billion, beating the consensus of $22.4 billion.
The company sees Q3 sales up 13-24% to between $23.3 billion and $25.5 billion, versus the consensus of $23.9 billion.
“The teams at Amazon have been working hard for customers,” said Jeff Bezos, founder and CEO of Amazon.com. “We unveiled Amazon Business, opened Amazon Mexico, launched Prime free same-day, rolled out our ninth Prime Now city, broke our Black Friday record with the first-ever Prime Day, received 11 Emmy nominations for Transparent, debuted six new kids pilots, brought Echo to general availability, introduced the Alexa Skills Kit and Alexa Voice Service, opened FBA Small and Light, continued to double down on our fastest growing geography — India, launched 350 significant AWS features and services so far this year (ahead of last year’s pace), introduced AWS Educate, and entered into agreements for new solar and wind farms — enough to exceed our 2016 goal of 40% renewable energy.”