Amazon.com Inc (NASDAQ:AMZN) posted financial results for the second quarter on Thursday after the closing bell. Here’s a rundown of the e-commerce giant’s report.
- Amazon shares are trending. What’s behind AMZN gains?
Amazon Q2 Earnings Highlights
Amazon reported second-quarter revenue of $200.61 billion, beating the consensus estimate of $196.46 billion, according to Benzinga Pro. The company posted second-quarter earnings of $5.75 per share, beating analyst estimates of $1.82 per share.
Total revenue increased 20% on a year-over-year basis. Here’s a breakdown of revenue by segment.
- North America: $116.2 billion, up 16%
- International: $42.2 billion, up 15%
- Amazon Web Services: $42.2 billion, up 37% (fastest growth in 18 quarters)
Operating cash flow increased 33% to $161.4 billion for the trailing 12 months, and free cash flow decreased to an outflow of $7.6 billion, driven primarily by a year-over-year increase of $66.1 billion in purchases of property and equipment, reflecting AI investments. Amazon ended the period with $80.93 billion in cash, cash equivalents and restricted cash.
“AWS is booming, growing 36.7% year-over-year in Q2 — our fastest growth in 18 quarters — and our AI and Chips businesses each eclipsed run rates of more than $25 billion,” said Andy Jassy, president and CEO of Amazon.
“In Stores, we again set record delivery speeds for Prime members in the first half of the year — over 40% more items delivered same-day or overnight, with Grocery and Everyday Essentials growing meaningfully faster than the rest of the business.”
Amazon expects third-quarter revenue to be between $197 billion and $202 billion versus estimates of $204.08 billion. Operating income is expected to be between $22.5 billion and $26.5 billion in the third quarter, compared to $17.4 billion in the comparable quarter last year.
“There’s a lot to be excited about, and we have much more coming for customers in the second half of the year and beyond,” Jassy added.
Amazon management will further discuss the quarter on an earnings call at 5 p.m. ET. A link to the call has been provided below.
AMZN Shares Surge After Hours
AMZN Price Action: Amazon shares were up approximately 3.75% year-to-date heading into the print. The stock was up 9.12% in after-hours, trading at $256.97 at the time of publication on Thursday, according to Benzinga Pro.
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