Analysts on average had expected a profit of US$1.11 per share and revenue of US$29.55 billion, according to Thomson Reuters I/B/E/S.
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During this quarter, Amazon Web Services (AWS) announced that Salesforce.com selected AWS as its preferred public cloud infrastructure provider.
The company saw a significant increase in sales and profit from the same period a year ago.
On its Q2 earnings call, expect Amazon and Bezos to field questions on AWS, Prime, and its hardware, all key areas of focus for the highly-scrutinized commerce giant these days. The team in India is inventing at a torrid pace, and we’re very grateful to our Indian customers for their welcoming response. Amazon likely loses money or breaks even, at best, on the Kindle sales, but makes a small profit in the end thanks to e-books and advertising.
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The unit, Amazon’s fastest growing business, is seen as the next driver of growth for the company. Although the 60 percent year-over-year growth in Prime Day sales won’t factor into the company’s bottom line until it reports third quarter because it fell in July. The sales day generated significant traction this year and will be included in next quarter’s earnings. (NASDAQ:AMZN) second quarter earnings results expected today after market close, Piper Jaffray top analyst Gene Munster remains bullish, reiterating a Buy with a price target of $800, marking a conservative just over 8% upside from where the stock is now trading. They did not find success with their Fire Phone and the company recently shut down their Gilt Groupe competitor, MyHabit. The stock is up 40% in the past year. Amazon is also expanding its grocery delivery business. The company has a market cap of $355 billion.
