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E-commerce giant Amazon.com, Inc. (NASDAQ:AMZN) showed a record profit in its Q2 earnings report.
What Happened
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Amazon's second-quarter revenue rose from $35.71 billion in the same quarter a year ago to $52.9 billion, which fell short of the $53.27 billion Wall Street expected. Over the same time period, however, net profit surged nearly tenfold from $197 million to $2.5 billion. This metric is seen as a "pleasant surprise" to shareholders as management's long-term strategy of reinvesting nearly every dollar it made is paying off.
Why It's Important
Amazon's quarterly net income was in the red throughout the second and third quarter of 2014 and the first quarter of 2015. Since then, every quarter has been in the green with clear momentum picking up in the back half of 2017.
You will find more infographics at Statista
What's Next
Based on Amazon's results, it may seem that CEO Jeff Bezos is "running out of ideas to reinvest" all of the profit flowing in, Statista said. But this is unlikely to be the case as Amazon's level of innovation and multiple initiatives are well known to investors.
Related Links:
Amazon's Q2 Was A Show Of 'Power,' Morgan Stanley Says
'Margins To The Rescue' After Amazon Misses Q2 Sales Estimates
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.