Amazon AMZN reported its second-quarter earnings on Thursday. Shares of the company are down more than 10%.
Below are some key takeaways from its conference call:
The Results:
• Trailing 12-month operating cash flow increased 18% to $5.33
billion.
• Trailing 12-month free cash flow increased to $1.04 billion.
•
Trailing 12-month capital expenditures were $4.29 billion.
• Return on invested capital was 6%, up from 2%.
• The combination of
common stock and stock-based awards outstanding was 480 million shares
compared with 474 million one year ago.
• Worldwide revenue grew 23% to $19.34
billion or 22% excluding the $237 million favorable impact from
year-over-year changes in foreign exchange rates.
• Media revenue increased to
$4.84 billion, up 10%, or 9% excluding foreign exchange.
• Active customer accounts exceeded 250
million. Worldwide active seller accounts were more than 2 million. Seller
units represented 41% of paid units.
• Cost
of sales was $13.4 billion or 69.3% of revenue compared with 71.4%.
• In the International segment revenue grew 18% to $7.34 billion. Excluding the
$246 million year-over-year favorable foreign exchange impact, revenue growth
was 14%.
• Media revenue grew 7% to $2.38 billion or 4% excluding foreign
exchange.
• Our income tax expense was $94 million.
Guidance:
• For Q3 2014, we expect net sales of between $19.7 billion and $21.5 billion
or growth of between 15% and 26%.
• This guidance anticipates approximately 120
basis points of favorable impact from foreign exchange rates.
• GAAP operating
loss to be between $810 million loss and a $410 million loss compared to a
$25 million loss in third quarter of 2013.
• This includes approximately $410
million for stock-based compensation amortization of intangible assets.
• We remain heads-down focused on driving a better customer experience through
price, selection, and convenience.
• We believe putting customers first is the
only reliable way to create lasting value for shareholders.
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