Amazon's Q2 misses on the bottom line (AMZN)
Amazon's second-quarter profit fell well shy of Wall Street's expectations.
The company reported earnings per share of $5.22 for the period. That was up from the year-ago, but below the $5.56 a share analysts had projected.
The company's revenue for the period — $63.4 billion — did, however, top Wall Street's estimates.
Investors sold the shares on the news. In recent after-hours trading, the company's stock price was down $36.82, or about 2%, to $1,937.
Here's what the company reported and how it compared with analysts' projections and the company's year-earlier results.:
- Q2 revenue: $63.4 billion. Analysts were looking for $62.5 billion. In the same period last year, Amazon posted $52.9 billion in sales.
- Q2 EPS: $5.22. Wall Street had predicted $5.56. The company earned $5.07 in the second quarter of 2018.
- Q3 revenue (guidance): $66 billion to $70 billion. Wall Street had previously forecast $67.2 billion. Amazon recorded $56.6 billion in third-quarter sales last year.
- Q3 operating income (guidance): $2.1 billion to $3.1 billion. Analysts had projected an operating profit of $4.3 billion for the period. In the same period a year ago, the company posted operating income of $3.7 billion.
- Q3 EPS (guidance): Amazon didn't offer specific earnings guidance. Analysts had projected $6.61. The company posted a profit of $5.75 a share in the same period a year ago.
Amazon's shares closed regular trading down $26.99, or 1.4%, to $1,973.82. At the end of the session, though, the stock was still up more than 4% since its last earnings report in April.
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