Wednesday, June 20, 2018
News: Page (1) of 1 - 07/26/12 Email this story to a friend. email article Print this page (Article printing at page facebook meets tiny 2Q profit expectations meets tiny 2nd-quarter profit expectations but revenue comes up short
By The Associated Press

SEATTLE (AP) Online retailer is reporting second-quarter earnings that match Wall Street's small expectations, but its revenue gains have fallen short of forecasts.

Net income in the three months to June 30 came to just $7 million, or a penny per share, a drop of 96 percent from $191 million, or 41 cents, a year ago.

That matched expectations of analysts polled by FactSet, although Inc. says its profit was hurt by a $65 million loss related to its acquisition of Kiva Systems Inc.

Revenue grew 29 percent to $12.83 billion, short of the $12.90 billion expected by analysts.

However, said Thursday that revenue was negatively impacted by currency movements to the tune of $272 million.

Shares fell 1.7 percent to $216.38 in after-hours trading.

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