Quarterly profit sees Amazon shares rise by over 17%

24 Jul 2015 | Author: | No comments yet »

Amazon revenue rises about 20 percent as North America sales grow.

Amazon.com swung to an unexpected quarterly profit on higher sales in North America, its popular Prime subscription service and growing demand for its Web services sending the online retailer’s shares up more than 17 per cent. “We expect some upside to consensus revenue estimates from growth in Prime revenues driven by additional media options, same-day fulfillment options, higher average Prime pricing, and continued strong growth in AWS revenue during the quarter”, he said. Amazon.com, Inc. (NASDAQ:AMZN) released its earnings report for its second fiscal quarter after closing bell tonight, posting earnings of 19 cents per share on revenue of $23.18 billion.

The announcement of an unexpected second-quarter profit delighted investors and the company’s share value increased by 17.28% in after hours trading. Boss Jeff Bezos listed Amazon’s accomplishments over the past three months, including the launch of Prime Day, Amazon Business and Amazon Mexico, as well as the group’s 11 Emmy nominations for its original series, Transparent.

It reported a profit of $92 million, or 19 cent per share, for the second quarter ended June 30th, compared with a loss of $126 million, or 27 cent per share, a year earlier. Another bright spot came from North American sales of the company’s electronics and other general merchandise segment, a category that includes such items computers, toys and jewelry.

Amazon considers Amazon Web Services a core engine of growth, along with Amazon Prime and Marketplace, where the company acts as a middleman for third-party vendors. Amazon.com, Inc. using SYMBOL code NASDAQ:AMZN has had its stock rating noted as “Upgrade” with the recommendation being set at “MKT PERFORM >> MKT OUTPERFORM” this morning by analysts at JMP Securities.

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