Amazon shares go wild after earnings beat
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It's an overall beat. Amazon shares are up about 8% in afterhours.
Here are the most important numbers:
- Revenue: $25.4 billion vs. $24.9 billion expected
- EPS: $0.17 per share vs. $0.13 loss per share expected
That's two consecutive quarters with a profit, a rare feat for Amazon, a company known for growing its business at a loss.
Revenue is up 23% from the same quarter of last year. Net income came in at $79 million this quarter.
It gave next quarter guidance in the range of $33.50 billion and $36.75 billion,
Amazon introduced Prime Day, a full day of sales that offered Black Friday-type of deals, for the first time last quarter. Investors will be interested in seeing how it impacted its overall sales and Prime memberships. Amazon has never disclosed the size of its Prime subscribers.
It also held re:Invent, its annual conference for Amazon Web Services, the cloud computing segment that's generated $1.8 billion in sales last quarter. AWS broke out its revenue for the first time earlier this year, and has proven to be Amazon's fastest growing business, having grown 81% year-over-year last quarter.
Disclosure: Jeff Bezos is an investor in Business Insider through hispersonal investment company Bezos Expeditions.
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