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Amazon Posts Not-So-Hot Q2 Profits

Online retailer misses estimates as profits plummet


Online retailing giant Amazon (NASDAQ:AMZN) reported earnings $7  million, or 1 cent per share, in the second quarter after the bell on Thursday, missing analyst estimates of 2 cents. That was a 96% drop from earnings the year before, when the company brought in $191 million, or 41 cents per share.

Revenue did increase to $12.89 billion, though, a 29% gain from the $9.91 billion reported at the same time last year.

The company’s sales outlook for Q3 is for between $12.9 and $14.3 billion — a 19 to 31% increase — but it expects  an operating loss  between $350 and $50 million, down from a profit of $79 million a year ago.

Shares of Amazon were down more than 3% in after-hours trading after the report.

-Alyssa Oursler, InvestorPlace Editorial Assistant

Article printed from InvestorPlace Media, http://investorplace.com/2012/07/amazon-posts-not-so-hot-q2-profits/.

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