The brown Amazon packages landing on doorsteps are starting to throw off plenty of green. The e-commerce giant reported $3.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.80 by $1.47.
Inc. (AMZN.O) reported better-than-expected earnings in the second quarter and forecast more of the same in the current period, igniting investor optimism about cloud computing, advertising and other businesses that are more profitable than its main online retail operation.
Looking forward to the third quarter, the company expects sales of $54.0 billion to $57.5 billion.
The company said that it is working on operational efficiency.
In his statement on the results, Amazon founder and chief executive Jeff Bezos chose to focus on the success of the company's virtual assistant, Alexa. 2,216 Amazon.com, Inc. (NASDAQ:AMZN) shares with value of $3.24M were sold by Zapolsky David.
While cloud rivals are gaining ground, AWS remains far in front with 31 percent of the fast-expanding market, versus 18 percent for Microsoft Corp (MSFT.O) and 8 percent for Google in the second quarter, research firm Canalys said Thursday. The only major drawback was more losses at its global business. Because all company has a different number of shares owned by the public, contrast only companies' earnings figures do not indicate how much money each company made for each of its shares, so we need E-P-S to make valid comparisons.
The profit in the past quarter compared with net income of $197m the same time a year ago.
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That's led to more internal transfers between teams at the company, and less new hiring from outside, he said. Amazon's "other" revenue, which is largely comprised of ad sales, grew a whopping 132% in the quarter to $US2.2 billion. This was in stark contrast to Facebook, which earlier this week warned of a squeeze of profit margins in the years ahead due to costs of improving privacy safeguards and a slowdown in advertising markets.
Now, Olsavsky said, the company will "reset and evaluate where we still need to add people", he said.
Revenue grew 39% year over year to $52.89bn, which was slightly below analyst expectations.
"We've built a very strong partner and customer ecosystem and frankly we have the most proven reliability of security and performance, and we've been at this longer than anyone else". Bank Pictet & Cie Asia Ltd who had been investing in Amazon Com Inc for a number of months, seems to be less bullish one the $904.27 billion market cap company.
And a stat that everyone talking: Amazon showed a profit (net income) of $2.5 billion in the second quarter compared with $197 million in second quarter of 2017.
The e-commerce and technology giant reported net sales of 52.9 billion dollars (£40.3bn), up from 38 billion dollars (£29bn) in the same quarter past year. That comes out to $5.07 a share, up from 40 cents a share during the same period in 2017 and more than double what outside observers had anticipated.
Riding on its growing AWS Cloud and advertising portfolio, Amazon posted a record profit of $2.5 billion (or $5.07 per diluted share) in the second quarter of 2018 - an impressive jump from the $197 million (or $0.40 per diluted share) it posted in the same period a year ago.