Tags: amazon | revenue | forecast | cautious

Amazon Revenue Jumps, but Forecast Cautious

Thursday, 26 Jul 2012 04:39 PM

Amazon.com Inc reported strong quarterly revenue growth but a slim quarterly profit and gave a cautious forecast on Thursday.

Shares of the company slipped about three percent to $214 in after-hours trading.

Second-quarter revenue was $12.83 billion, up 29 percent from a year earlier. Net income was $7 million, or one cent per share, versus $191 million, or 41 cents a share, a year earlier, the company said.

Amazon, the world's largest Internet retailer, forecast third-quarter revenue of $12.9 billion to $14.3 billion. Analysts were forecasting $14.1 billion, according to Thomson Reuters I/B/E/S.

Amazon also forecast a third-quarter operating loss of $50 million to $350 million. Excluding stock-based compensation and other items, the forecast was between a loss of $75 million and a profit of $225 million.

Analysts at JP Morgan, Raymond James and Caris & Co were looking for third-quarter operating profit of $258 million, $280 million and $388 million respectively. Those forecasts excluded stock-based compensation and other items.

© 2017 Thomson/Reuters. All rights reserved.

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