Amazon posts big Q2 earnings beat but misses revenue target - Techies Updates

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Saturday, July 28, 2018

Amazon posts big Q2 earnings beat but misses revenue target

AWS once again accounted for a significant portion of Amazon's net income, growing 49 percent year-over-year.

Amazon posts big Q2

Amazon published its second quarter financial results on Thursday, beating earnings estimates but falling short of revenue expectations.

The Seattle-based tech giant posted net income of $2.5 billion in the second quarter or $5.07 per diluted share. Revenues came to $52.9 billion, up 39 percent year-over-year.

A year prior, the company reported earnings of 40 cents on revenue of $38 billion.

Wall Street was looking for earnings of $2.50 per share on revenue of $53.38 billion.

Amazon Web Services' net sales came to $6.1 billion for the quarter, growing 49 percent year-over-year. AWS accounted for just 11 percent of Amazon's net sales but still delivers significant profits: The segment's operating income was $1.64 billion.

Q2

As for Amazon's North America segment, net sales in Q2 came to $32.17 billion, up 44 percent year-over-year. Operating income was $1.84 billion.

International net sales came to $14.6 billion, up 27 percent, with an operating loss of $494 million.

In a statement, Amazon CEO Jeff Bezos highlighted the momentum behind Amazon's voice-activated assistant Alexa.

"We want customers to be able to use Alexa wherever they are," Bezos said. "There are now tens of thousands of developers across more than 150 countries building new devices using the Alexa Voice Service, and the number of Alexa-enabled devices has more than tripled in the past year. Our partners are creating a wide variety of new Alexa-enabled devices and experiences, including soundbars from Polk and Sonos; headphones from Jabra; smart home devices from ecobee and First Alert; Windows 10 PCs from Acer, HP, and Lenovo; and cars from automakers including BMW, Ford, and Toyota."



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