Amazon: 2Q Earnings Snapshot

By Associated Press

SEATTLE (AP) _ Inc. (AMZN) on Thursday reported second-quarter profit of $2.53 billion.

On a per-share basis, the Seattle-based company said it had profit of $5.07.

The results topped Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $2.49 per share.

The online retailer posted revenue of $52.89 billion in the period, falling short of Street forecasts. Fourteen analysts surveyed by Zacks expected $53.45 billion.

For the current quarter ending in October, Amazon said it expects revenue in the range of $54 billion to $57.5 billion. Analysts surveyed by Zacks had expected revenue of $58.24 billion.

Amazon shares have climbed 55 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 6 percent. In the final minutes of trading on Thursday, shares hit $1,807.76, an increase of 72 percent in the last 12 months.

This article provided by NewsEdge.