Tags: Amazon | earnings | profit | Street

Amazon Tops Street 2Q Forecasts With Profit of $857 Million

Image: Amazon Tops Street 2Q Forecasts With Profit of $857 Million
(Source: Amazon.com)

Thursday, 28 Jul 2016 04:56 PM

Amazon.com Inc. on Thursday reported second-quarter profit of $857 million.

The Seattle-based company said it had profit of $1.78 per share.

The results beat Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.14 per share.

The online retailer posted revenue of $30.4 billion in the period, which also beat Street forecasts. Eleven analysts surveyed by Zacks expected $29.73 billion.

For the current quarter ending in October, Amazon said it expects revenue in the range of $31 billion to $33.5 billion. Analysts surveyed by Zacks had expected revenue of $31.62 billion.

Amazon shares have increased 11 percent since the beginning of the year, while the Standard & Poor's 500 index has risen slightly more than 6 percent. In the final minutes of trading on Thursday, shares hit $752.49, a climb of 43 percent in the last 12 months.

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Amazon.com Inc. on Thursday reported second-quarter profit of $857 million.The Seattle-based company said it had profit of $1.78 per share.
Amazon, earnings, profit, Street
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2016-56-28
Thursday, 28 Jul 2016 04:56 PM
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