Amazon posted net sales of 113.1 billion for the second quarter, up 27%, but fell short of Wall Street expectations, sending its stock down 5% in after-hours trading.
The result was within the range of the company’s previously issued guidance, which had net sales between $110 and $116 billion. However, Wall Street analysts had expected Amazon to report overall net sales of $115 billion, on average, a 29% increase year-over-year.
Amazon was still able to top expectations with profits of $7.8 billion or $15.12 per share. Analysts expected earnings per share of $12.22, up from $10.30 per share a year ago.
Developing story, more to come.
from GeekWire https://www.geekwire.com/2021/amazon-sales-113b-disappoint-wall-street-profits-7-8-billion-exceed-expectations/