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