Market Overview

Amazon Reports Huge Q2 Earnings Growth

Amazon Reports Huge Q2 Earnings Growth, Inc. (NASDAQ: AMZN) reported quarterly earnings of $10.30 per share on Thursday. This is a 97.32% increase over earnings of $5.22 per share from the same period last year.

The company reported quarterly sales of $88.91 billion, which beat the analyst consensus estimate of $81.53 billion by 9.05%. This is a 40.23% increase over sales of $63.40 billion the same period last year.

Amazon reports third-quarter 2020 guidance net sales are expected to be between $87 billion and $93 billion, or to grow between 24% and 33% compared with the third quarter of 2019.

The company expects operating income is expected to be between $2 billion and $5 billion, compared with $3.2 billion in the third quarter of 2019. This guidance assumes more than $2 billion of costs related to COVID-19.

Amazon shares were trading up 4.4% at $3,187 at the time of publication in the after-hours session. The stock has a 52-week high of $3,344.29 and a 52-week low of $1,626.03.

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