Amazon.com Earnings: Investors Cheer Double-Digit Revenue Growth
Amazon.com Inc. (NASDAQ:AMZN) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. However, Amazon delivered strong top-line growth. Shares are up 7.31%.
Amazon.com Inc. Earnings Cheat Sheet
Results: Net income decreased -45.2% to $97 million (21 cents per diluted share) in the quarter versus a net gain of $177 million in the year-earlier quarter.
Revenue: Rose 22.02% to $21.27 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Amazon.com Inc. reported adjusted net income of 21 cents per share. By that measure, the company missed the mean analyst estimate of $0.29. It missed the average revenue estimate of $22.26 billion.
Quoting Management: “We’re now seeing the transition we’ve been expecting,” said Jeff Bezos, founder and CEO of Amazon.com. “After 5 years, eBooks is a multi-billion dollar category for us and growing fast – up approximately 70% last year…