Amazon brought in $2 billion less than analysts expected, even with a second-quarter Prime Day
Amazonreported its second-quarter earnings results on Thursday.
- The ecommerce giant surpassed analysts' projections for earnings but missed on revenue.
- Amazon also issued third-quarter guidance, anticipating net sales of up to $112 billion.
Amazon on Thursday posted mixed second-quarter earnings, missing on Wall Street's revenue expectations despite the annual Prime Day shopping holiday falling in June this year.
Here are the key numbers:
- Revenue: $113.08 billion, versus an expected $115.20 billion
- Earnings per share (EPS): $15.12 compared to an expected $12.30 per share
After postponing Prime Day in 2020 due to the pandemic, the annual shopping holiday returned to mid-year, taking place over two days beginning June 21. Amazon said customers purchased more than 250 million items over the two-day span, with the latest Fire TV Stick the most popular item sold, the company said.
Amazon called this year's Prime Day "the biggest two-day period ever for small and medium-sized businesses" on its stores worldwide.
AWS, Amazon's cloud unit, saw $14.8 billion in revenue in the second quarter, up from $10.8 billion during the same period of 2020.
Overall, sales were up 27% from $88.9 billion during the second quarter 2020. Profits rose to $7.8 billion, compared to $5.2 billion posted in the second quarter of last year.
Amazon also issued third-quarter guidance, saying it's anticipating between $106 billion and $112 billion in sales, an increase of between 10% and 16% compared with the third-quarter 2020.
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