Amazon (NASDAQ: AMZN) reported Q2 EPS of $10.30, $8.84 better than the analyst estimate of $1.46. Revenue for the quarter came in at $88.9 billion versus the consensus estimate of $81.53 billion.

GUIDANCE:

Amazon sees Q3 2020 revenue of $87-93 billion, versus the consensus of $86.3 billion.

• Net sales are expected to be between $87.0 billion and $93.0 billion, or to grow between 24% and 33% compared with third quarter 2019. This guidance anticipates an unfavorable impact of approximately 20 basis points from foreign exchange rates.
• Operating income is expected to be between $2.0 billion and $5.0 billion, compared with $3.2 billion in third quarter 2019. This guidance assumes more than $2.0 billion of costs related to COVID-19.
• This guidance assumes, among other things, that no additional business acquisitions, investments, restructurings, or legal settlements are concluded.

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