Market Overview

Amazon Sinks After-Hours, Misses Q2 Bottom-Line Street View

Share:
Related AMZN
Cramer: These 3 Retailers Don't Need To Worry About Amazon's Threat
Caution Suggested Ahead Of Foot Locker Earnings
Henderson Group Plc Buys Microsoft Corp, Alphabet Inc, Apple Inc, Sells Cardinal Health Inc, ... (GuruFocus)

Amazon (NASDAQ: AMZN) shares were falling in after-hours action after it missed bottom-line expectations by a wide margin on a 23 percent gain in revenue.

The company's loss widened to $126 million or $0.27 per share, from a loss of $7 million, or $0.02 per share, a year earlier.

Sales grew 23 percent from $15.7 billion to $19.34 billion in second quarter 2013. Wall Street expected a loss of $0.15 per share, on revenue of $19.34 billion.

For the third quarter, Amazon expects sales of between $19.7 billion and $21.5 billion, up by between 15 and 26 percent from a year earlier.

Amazon said its third-quarter operating loss will run between $810 million and $410 million, compared to a $25 million loss in third quarter 2013. The outlook includes $410 million for stock compensation and amortization.

Analysts expect a third-quarter loss of $0.07 per share on $20.83 billion in revenue.

For the recent period, Amazon did not breakout sales for its cloud-based Amazon Web Services segment, although usage growth for the service is up nearly 90 percent from the year-earlier quarter, it said.

In North America, accounting for about 60 percent of Amazon revenue, media sales grew 13 percent to $2.46 billion, electronics and general merchandise up 29 percent to $8.37 billion, while "other" was up 38 percent to $1.17 billion including Amazon Web Services sales, advertising and a co-branded credit card.

Amazon changed hands recently after hours at $332.10 per share, down 7.39 percent.

Posted-In: Earnings News Guidance After-Hours Center

 

Related Articles (AMZN)

View Comments and Join the Discussion!