AMZN stock

Amazon on Thursday reported second-quarter results that beat on the top line and issued rosy sales guidance for the third quarter.

Jassy's first year on the job has been marred by challenges, including an ongoing labor battle, the market downturn, growing regulatory pressure and an exodus of top talent. AWS generated operating income of $5.7 billion, accounting for all of Amazon's profit plus some in the period. That brings its total loss on the investment this year to $11.5 billion. Among the other top tech companies, Microsoft also reported disappointing results this week. Physical store sales continued to rebound from the year-ago period, growing 12%. Technology companies have been announcing layoffs, hiring freezes and rescinding job offers in the midst of economic uncertainty. I don't think you'll see us hiring at the same pace we did over the last year, or the last few years." Because of the Rivian writedown, Amazon had an overall loss of $2 billion in the quarter. "I think it's right for people to step back and question their hiring plans," Olsavsky said. Amazon recorded a $3.9 billion loss on its Rivian investment after shares of the electric vehicle maker plunged 49% in the second quarter. Amazon shaved its headcount by 99,000 people to 1.52 million employees as of the end of the second quarter after almost doubling in size during the pandemic. - Amazon reported second-quarter results on Thursday that beat on the top line.

Investors cheered the e-commerce giant's Q2 revenue growth and Q3 revenue guidance, driving shares up nearly 14% in Thursday's after-hours trading session.

Inflation is high and many consumers and business leaders are concerned that a U.S. (or global) recession is on the horizon. Operating cash flow fell 40% year over year to $35.6 billion for the trailing 12 months. (The consensus was $0.16 at the time of my earnings preview.) It was far from a strong quarter, but it was a solid one in the context of the macroeconomic environment. My back-of-the-envelope calculation indicates that absent the Rivian stock valuation loss, earnings per share (EPS) would probably have just slightly missed the the $0.13 Wall Street estimate. Free cash flow will vary considerably based upon how much money Amazon is investing in growth initiatives. This result fell considerably short of the analyst consensus estimate of $0.13 per share. The company's revenue performance was stronger than the percentage growth numbers suggest. The North America segment's performance was particularly impressive given the previously mentioned quarter-shifting of Prime Day and the high-inflation macroenvironment. Amazon's net quarterly sales grew 7% year over year to $121.2 billion, surpassing the $119.1 billion Wall Street had expected. Operating income decreased 57% year over year to $3.3 billion. That result also slightly beat the company's guidance range of $116 billion to $121 billion.

Amazon's second-quarter revenue beat analysts' average outlook, sparking a 12.5% gain this morning by AMZN stock.

The revenue of AWS jumped 33% YOY to $19.74 billion. He kept a “buy” rating on the name. He added, “Longer-term, Amazon should benefit from steady margin expansion driven by the rapid growth of its cloud and advertisement businesses.” On the date of publication, Larry Ramer did not hold (either directly or indirectly) any positions in the securities mentioned in this article. We’re also seeing revenue accelerate as we continue to make Prime even better for members,” Amazon CEO Andy Jassy said in a statement. Turning to guidance, Amazon expects to generate Q3 revenue of $125 billion to $130 billion versus analysts’ mean estimate of $126.6 billion.

Amazon.com's recent investments in logistics are beginning to deliver rewards, according to RBC analyst Brad Erickson. Aaron P. Bernstein/Getty Images. Talk ...