Online retailer Amazon.com Inc. (NASDAQ:AMZN) reported second-quarter earnings of $2.63 billion U.S. or $5.22 per share, numbers that disappointed analysts who had expected a better performance.
The results announced by the Seattle-based company did not meet Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $5.29 per share. Amazon posted revenue of $63.4 billion in the quarter, beating analysts’ forecasts that had expected $62.57 billion in revenue.
For the current quarter ending in October, Amazon said it expects revenue in the range of $66 billion to $70 billion. Analysts surveyed by Zacks had expected revenue of $67.22 billion. Amazon shares have risen 32% since the beginning of the year, while the Standard & Poor's 500 index has climbed 20%.
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