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Amazon 2nd-qtr profit falls as rising expenses overshadow sales growth, results beat Street
SAN FRANCISCO (AP) ' Amazon.com Inc. says its second-quarter revenue jumped 51 percent, helped by higher merchandise sales, while its profit fell as the online retailer's operating expenses rose.
The results easily beat analyst expectations.
For the quarter that ended June 30, Amazon said late Tuesday it earned $191 million, or 41 cents per share, compared with $207 million, or 45 cents per share, in the year-ago quarter.
Revenue rose to $9.91 billion from $6.57 billion last year. The company's electronics and general merchandise revenue rose 69 percent to $5.89 billion, while sales of books, CDs, DVDs and other media rose 27 percent to $3.66 billion.
Analysts polled by FactSet were expecting a profit of 34 cents per share on $9.37 billion in revenue.