Technology
Amazon Posts Profit, Investors Send Stock to All-Time High
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Other comparisons are staggering: operating profit of $464 million compared with an operating loss of $15 million in the year-ago quarter; operating cash flow for the trailing twelve months $8.96 billion compared with $5.33 billion for the same period a year ago; and free cash flow for the trailing twelve months of $4.37 billion compared with $1.04 billion at the same time a year ago.
As far as guidance for the third quarter, net sales are expected to be between $23.3 billion and $25.5 billion. Operating income is projected to be between a loss of $480 million and a gain of 70 million. Net income in the second quarter totaled $92 million. Thomson Reuters has third-quarter consensus estimates for an EPS loss of $0.61 and $23.89 billion in revenue.
CEO Jeff Bezos added no additional detail on to the earlier report on Prime Day (technically in the third quarter).
Web services revenues totaled $1.82 billion, up about 16% from a total of $1.57 billion in the first quarter of this year. Web services accounted for $391 million in second-quarter net income, more than 5 times the $77 million total in the first quarter.
As one might expect, Amazon shares are killing it in after hours trading, up 18.5% at $571.36 in a 52-week range of $284.00 to $493.20. If that number holds, Amazon easily posts a new all-time high during tomorrow’s regular session. Thomson Reuters had a consensus analyst price target of around $498.50 before today’s report.
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