Amazon: 2Q Earnings Snapshot

July 26, 2018 - 1:18 pm

SEATTLE (AP) — Amazon.com Inc. reported second-quarter profit Thursday of $2.53 billion.

On a per-share basis, the Seattle-based company said it had profit of $5.07.

The results topped Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $2.49 per share.

The online retailer posted revenue of $52.89 billion in the period, falling short of Street forecasts. Fourteen analysts surveyed by Zacks expected $53.45 billion.

For the current quarter ending in October, Amazon said it expects revenue in the range of $54 billion to $57.5 billion. Analysts surveyed by Zacks had expected revenue of $58.24 billion.

Amazon shares have climbed 55 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 6 percent. After the results were released Thursday, its shares rose more than 2 percent to $1,848.80.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMZN at https://www.zacks.com/ap/AMZN

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